Release: Antam: Antam and BHP Billiton establish an alliance to develop Halmahera nickel deposit

Perth, February 13, 2007 ? PT Antam Tbk is today pleased to announce the signing of a Heads of Agreement establishing an alliance with BHP Billiton to investigate the joint development of an extensive nickel laterite resource on Halmahera Island, Indonesia.

The Heads of Agreement was signed in Perth during the Asia Pacific Economic Conference by Antam?s President Director, D. Aditya Sumanagara and BHP Billiton Stainless Steel Materials President, Jimmy Wilson.

The alliance will investigate development of pyrometallurgical and hydrometallurgical processing routes for the Buli deposit on Halmahera Island and other ore bodies.

This move is in line with Antam?s strategy to move into higher technology and downstream metals processing activities. This strategic alliance with BHP Billiton is also expected to mitigate the cost and risk of developing mineral deposits.

Antam?s President Director D. Aditya Sumanagara said: ?Mining and metals processing is a capital intensive, long term business. With this move, which is still many years away, we hope to ensure our future competitiveness in the nickel sector. The alliance would immediately commence a project study to develop hydrometallurgical and pyrometallurgical processing technologies on Halmahera Island.?

The project study represented a significant opportunity to jointly develop a world class nickel resource with considerable long term benefits to Indonesia.

Through the alliance study, Antam and BHP Billiton are committed to achieving leading mining industry best standards in safety, environmental and community practice. The project study phase will provide employment and support local businesses.

Following the signing, Antam and BHP Billiton will move towards the formation of a joint venture company for the alliance. Antam and BHP Billiton expect the joint venture agreement will be completed by end of 2007. (end of release)