Release: Finalisation of acquisition of PT Henry Walker Eltin Indonesia

Jakarta, 12 May 2005 ? The Henry Walker Eltin Group Limited (HWEGL) will transfer ownership of all its shares in one of its Indonesian subsidiaries (PT Henry Walker Eltin Indonesia). The transfer, has been taken place in Sydney on May 5, 2005, represents the final stage in the follow-up to the Agreement for the Sale and Purchase of the Entire Issued Share Capital between the PT Henry Walker Eltin Group Limited and PT. BUMI Resources Tbk, which was reached on 28 February 2005 in Sydney, Australia.

In acquiring these shares, the new owners of the company are Zurich Asset International (95%) and PT Indotambang Makmur (5% of the total shares). Zurich Asset International is a foreign investment company based in the British Virgin Island (BV), while PT Indotambang Makmur is a local investment company in the field of mining.

With its acquisition of these shares, PT Henry Walker Eltin Indonesia will then revert to the use of its original name PT Darma Henwa (PTDH).

On a separate occasion Hari Widodo, Director of PT Darma Henwa Indonesia, stated that ?this change in share ownership overall is indeed intended to provide certainty in responsibility for company management. No operational consequences whatsoever will arise from the transfer of shares because internally there will be no policy changes. Even so, on the whole this acquisition will actually provide a guarantee of implementation of activities for all of our clients, including KPC.?

So far, PT Darma Henwa Indonesia still holds the contract for the Bengalon Operating Agreement Mining Service (OA) to undertake a long-term project for 10 years commencing in 2004 from Kaltim Prima Coal (KPC), a subsidiary of BUMI. PT Darma Henwa Indonesia?s position is that of a company that supports the development of infrastructure and coal mining services for KPC. In the contract it is stated that PT Darma Henwa Indonesia will provide mining services in the Bengalon area with a production target of six million tons per year.

Adding to his explanation, Hari Widodo said, ?The acquisition is a common strategy in the management of business, thus ensuring the growth of the overall business. What BUMI has done as a coordinator and guarantor in the Indonesian Consortium is very highly appreciated. The accomplishment of the task has not only increased the value of the company but also given PTDH a credibility and a chance of continuing its plan?.

Darma Henwa has focusing all of its resources and attentions to accomplish KPC contract. So far, 60% of its heavy trucks and equipments have arrived on the sites while the rest will ready to operate by the end of June. (end of release)

Source: PT Darma Henwa