Release: Antam monthly exploration report for October 2005

Jakarta, November 11,2005 - PT Antam Tbk is pleased to lodge the monthly evploration report for october 2005 in accordance with the Jakarta Stock Exchange listing rules. Exploration activities remained focused on Antam's main commodities of nickel laterite. gold and bauxite. The total cost for exploration in october 2005 reached Rp 4.1 billion than the Rp 3.7 billion spent in September 2005.

NICKEL

Antam conducted nickel exploration in Buli, Halmahera Southeast Sulawesi and Obi Island. Exploration in Buli included 1,715.5 meters of drilling at Pakal, Mornopo and Sangaji for a total cost of Rp 1.7 billion. Antam also conducted exploration activities to obtain new KP License at North Weda for a total cost of Rp 26.3 million. To support exploration planning at halmahera, Antam conducted analyses of the continuation of nickel laterite deposits with infill drilling that was in the final stages, boulder distribution analysis (georadar research on several mining blocks) and final preparations for the Mornopo mine design for a total cost of Rp 61.9 million.

Antam continued exploration drilling in Southeast Sulawesi at Tapunopaka using a 25m x 25m grid and Mandiodo using a 50m x 50m grid. At these locations, Antam conducted a total of 5,316 metres of drilling with a total cost of Rp 1.6 billion.

Antam conducted exploration at Morowali Regency, Central Sulawesi including 18.3m shallow drilling with hand auger and assembles 11 samples for chemical purpose. Antam has applied new KP license at this location.

Antam completed grid measuresments, topography, drilling, core samples, iron ore analysis and continued community development initiatives at Obi Island on July 2005. Activities occurred on October 2005 including evaluation, preparing final report and arranging 25m cross pattern drilling model at a total cost of Rp 22 million.

The total cost for nickel exploration reached Rp 3.4 billion.

GOLD

Exploration activities in Mranggu, east java were conducted in cooperation with the Bandung Institute of Technology including thorough evaluation to detect other potential mineralizations.

Antam conducted exploration activitites at Karossa, West Sulawesi including initial visit and preparation analysis of 7 samples. The result indicated thorough exploration and recommended applying new KP licenses. Total cost reached Rp 15.9 million.

Antam conducted exploration activities at Cariu, Bogor Regency, West java, including Regional Geological Mapping of 4,900 ha and preparation analysis of 22 samples. It indicated Antam should not continue further exploration at this location. Total cost reached Rp 7.2 million.

Meanwhile exploration actitvities at Mamuju , West Sulawesi completed evaluation and preparing final report. The result recommended applying new KP license, specifically for Mao, Manuju block.

Antam conducted exploration activities at Toliwang, halmahera including evaluation and preparing final report. The results indicated Antam should apply a new KP license for Tauro Block, West Halmaher. Total cost for these activities reached Rp 24.3 million.

An initial visit was made to Patahtiga Mountain, Jambi to obtain preliminary data. A visit to Sorolangun local government was made and successfully received a new KP license for Batang Asai Block. Exploration activities were conducted at Muara Manderas, merangin Regency, jambi including evaluation and preparing final report. The result indicated to apply a new KP license. Total cost reached Rp 13.3 million.

Further exploration activities at Seblat, specifically Lebongkandis and Air Kuro prospects, bengkulu included Detailed Geological Mapping of 126.75 ha, Semi-Detailed Geological Mapping of 195 ha, 1 60m3 shallow ground clearing, 620 spots of magnetic measurements and preparation analysis of 7 samples with a total cost reached Rp 142.9 million.

At Pongkor gold mine, Antam conducted Detailed Geological Mapping of 22 ha and preparation analysis of 25 samples with a total cost reached Rp 247.1 million.

Gold exploration at the Cileungsir prospect at Cikotok, banten also continued in cooperation with a third party. It completed 2 drilling points of 681 m at Cileungsir on September and prepared drilling plan at Cisadan prospect. All costs were occurred at the third party?s expense.

Antam made an initial visit to Mandailing Natal, North Sumatera specifically to tambang Hitam and Tambang Ubi prospect to obtain preliminary data situation of the area on September. Evaluation and preparing final report were conducted on October with total cost of Rp 11 million.

Antam will conduct exploration activities at Bulado, Gorontalo including detailed Geological Mapping, Semi-Detailed Geological mapping and drilling test. Exploration license is on the process.

Total cost of gold exploration reached Rp 461.7 million.

BAUXITE

Further bauxite exploration at Wacopek, Kijang will continue on 4th quarter 2005 including measurements, grid, test pitting, preparation analysis and sample and arrangement for further activities at 8 knolls surrounding Wacopek.

Antam test pitting activities at Tayan used a 25m X 25m grid. Activities at Tayan included a grid measurement of 7.63 kilometres, test pitting of 134.4 meters, preparation analysis of 160 samples and mine design. The total cost for Tayan bauxite exploration activities amounted to Rp 275.4 million, including Rp 25.1 million of mine design cost.

Bauxite exploration including Regional Geological Mapping of 5,000 ha and preparation analysis of 15 samples was conducted to seek new prospects at Riau Island and West Kalimantan, outside Kijang and Tayan. It indicated bauxite deposit and new KP license is recommended at North Tayan, Sanggau Regency, West Kalimantan.

Total cost of bauxite exploration reached Rp 275.4 million.(end of release)