RELEASE: Antam and BCA sign credit facility

Jakarta, October 20, 2003 ? PT Antam Tbk is pleased to announce the signing of a US$60 million investment credit facility provided by PT Bank Central Asia Tbk (BCA). The signing ceremony took place earlier today at the Mercantile Club in Jakarta and was performed by D.E. Setijoso ? President Director of BCA, Dahlia Mansor Ariotedjo ? Director of BCA, D. Aditya Sumanagara ? President Director of Antam and Kurniadi Atmosasmito ? Finance Director of Antam.

The investment credit facility, which will help fund the US$320?US$330 million FeNi III nickel expansion project, has a repayment period of seven years, an interest rate in between 7.0% - 7.5% and a 28 month grace period.

The smelter construction contract came into effect on October 3, 2003 and commercial production will begin in the second quarter of 2006. FeNi III will more than double Antam?s ferronickel production capacity, from 11,000 tonnes to 26,000 tonnes of nickel per year.

The extension of corporate credit facility to Antam is part of BCA?s efforts to increase lending activities. BCA plans to further augment its role as a financial intermediary by increasing the extension of quality credits, developing conducive credit infrastructures and directing the growth of credits to profitable sectors. BCA and Antam may further develop their relationship, either in the field of credit or transactional banking. (end of release)