Release: Antam?s monthly exploration report - July 2004

Jakarta, August 12, 2004 ? PT Antam Tbk is pleased to lodge the first of monthly exploration reports as part of the revised Jakarta Stock Exchange listing rules. Antam continued exploration during July 2004 focusing activities on laterite nickel, gold, bauxite and iron sands. The total cost in July 2004 for exploration was Rp4.97 billion.

NICKEL
Nickel exploration was conducted in Buli, Halmahera and Southeast Sulawesi. Nickel exploration in Buli included 3,300m of infill drilling at Blocks A, P4-P5, Pakal and Sangaji with a total cost Rp1.76 billion. To support the Gebe mine, exploration was conducted at nearby Semingit with total of 3,380m of infill drilling costing Rp975 million.

Antam also made technical geological tests to support mining activities. The locations for nickel exploration drilling on Southeast Sulawesi were: Tapunopaka, Mandiodo and Bahubulu. In July drilling of 4,900m occurred with a total cost of Rp1.50 billion. These activities are intended to support the ferronickel smelter plants at nearby Pomalaa.

GOLD
Gold exploration was performed around the Pongkor gold mine, Cikotok and other areas in Indonesia. The total cost in July 2004 was Rp303.5 million.

The exploration in Cikotok/Banten consisted of semi-detailed geologcial mapping, costing Rp135 million. The exploration resulted in some interesting mineralizations in Cisadan prospect and further exploration work is planned.

Gold exploration in Way Hitam/Lampung is at the general survey stage. The exploration resulted in an indication in Serarukuh prospect which warrants further surveying and an application for a mining license will be made.

Meanwhile in Pongkor, geological work was preformed to support mine planning at the Ciurug and Ciguha veins.

BAUXITE
Bauxite exploration was performed at two of Antam?s mine sites, Tayan/West Kalimantan and Wacopek/Riau. The test pitting over a 25m x 25m gride in Tayan/ West Kalimantan is intended to increase the resource classification to measured.

In July 2004 test pitting reached 2,220m with a total cost Rp153.9 million.

The exploration in Wacopek area is intended to enhance bauxite resource around the mine site. Test pitting reached 500m with a total cost Rp193.2 million.

IRON SANDS
Iron sands exploration took place in a West Java coastal area and in the north of Papua. The exploration is intended to inventory resources and measure the cooperation with third party. (end of release)