Antam responds to Bisnis Indonesia article of FeNi III loan disbursement

Jakarta, April 17, 2003: PT Antam Tbk submits to the Australian Stock Exchange the English translation of a letter sent today to the Jakarta Stock Exchange. The content of the letter is as follows:

We refer to the Jakarta Stock Exchange (JSX) letter dated April 15 2003, which referred to the Bisnis Indonesia newspaper article dated April l S 2003 entitled "Loan

Disbursement for Aneka Tambang's FeNi III project expected in May".

Antam would like to inform the JSX of the following:

Antam had received a written commitment from Bank Mandiri to borrow, USD 150 million for construction of the FeNi III project, as stated in our press release on April 8, 2003.

Other information mentioned in the article came from Bank Mandiri (Note:Although this is not yet final, in the above mentioned story, Bank Mandiri mentions it will commence the disbursement of the loan for Antam's Fe Ni III project in May 2003.1 I Wayan Pugeg, Director of Bank Mandiri, stated the loan to Antam is in the form of project financing, with a duration of 7-10 years and a 2 year grace period. The USD-denominated loan will bear an interest of 9 percent annually).

Additionally, we inform the JSX that no other material or substantial events have occurred with regards to Antam.

Thank you for your kind attention.

Yours sincerely,

Dohar Siregar

?Corporate Secretary"