Release: Antam monthly exploration report - September 2005

Jakarta, October 12, 2005 ? PT Antam Tbk is pleased to lodge the monthly exploration report for September 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 September 2005 reached Rp3.7 billion, 3% higher than the Rp3.6 billion spent in August 2005.

NICKEL
Antam conducted nickel exploration in Buli, Halmahera, Southeast Sulawesi and Obi Island. Exploration in Buli included 8,011 meters of drilling at Pakal, Mornopo and Sangaji for a total cost of Rp1.7 billion. 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 Rp129 million.

Antam continued exploration drilling in Southeast Sulawesi at Tapunopaka, Mandiodo and Bahubulu Island. At these locations, Antam conducted a total of 5,138 metres of drilling with a total cost of Rp1.4 billion.

Antam completed grid measurements, topography, drilling, core samples, iron ore analysis and continued community development initiatives at Obi Island on July 2005.

Activities occurred at September 2005 including evaluation and preparing final report at a total cost of Rp149 million.

The total cost for nickel exploration reached Rp3.4 billion.

GOLD
Exploration activities in Mranggu, East Java were conducted in cooperation with the Bandung Institute of Technology. Sample analysis is intended to detect other potential mineralizations.

Antam conducted exploration activities at Baturappe, South Sulawesi including evaluation activities and final report preparation at a total cost of Rp6.6 million. It indicated it is unnecessary to apply for a new KP license.

Meanwhile exploration activities at Mamuju, West Sulawesi completed evaluation and final report preparation at a total cost of Rp10.3 million. Antam will thus apply for a new KP license, specifically for Mao, Manuju block.

Antam conducted exploration activities at Toliwang, Halmahera and completed Regional Geological Mapping of 15,200 ha, Semi Detailed Geological Mapping of 600 ha, preparation analysis of 43 samples, 3 samples for XRD analysis and 3 samples for petrography. The results indicate Antam should apply for a new KP license for Tauro block, West Halmahera. Total cost for these activities reached Rp12.9 million.

An initial visit was made to Patahtiga Mountain, Jambi to obtain preliminary data. A visit to Sorolangun local government was made to receive a new KP license for Batang Asai block. Antam will apply for a new KP license based on exploration activities at Muara Manderas, Merangin Regency, Jambi.

Antam conducted exploration activities at Cariu, Bogor Regency, West Java, including Regional Geological Mapping of 4,900 ha and preparation analysis of 22 samples. Total cost reached Rp4.9 million.

Further exploration activities at Seblat, specifically Lebongkandis and Air Kuro prospects, Bengkulu included Regional Geological Mapping of 182.25 ha, Semi-Detailed Geological Mapping of 241.39 ha and preparation analysis of 40 samples with a total cost reached Rp51.3 million.

At Pongkor gold mine, Antam conducted drilling activities of 400.55 m at KKS-2 location. These activities included logging and preparation analysis of 17 samples. Total cost reached Rp73 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. 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.

Total cost of gold exploration reached Rp159 million.

BAUXITE
Bauxite exploration at Wacopek, Kijang continued including evaluation and final report preparation.

Antam test pitting activities at Tayan used a 25m x 25m grid. Activities at Tayan included a grid measurement of 2.45 kilometers, polygon of 2.93 kilometers, test pitting of 452.6 meters and preparation analysis of 109 samples. The total cost for Tayan bauxite exploration activities amounted to Rp59 million.

Bauxite exploration also was conducted to seek new prospects at Riau Islands and West Kalimantan, outside Kijang and Tayan. It indicated no bauxite reserves at Ranai, Letung, Bulan, Kondur, Tanjung Balai Karimun and Terempa. Total cost reached Rp54 million.

Total cost of bauxite exploration reached Rp113 million. (end of release)