Release: Mitsubishi Corp: Financing and crude oil off-taking agreements with Indonesian national oil & gas company

February 18, 2005 ? Three Japanese trading houses headed by Mitsubishi Corporation and five commercial banks coordinated by BNP Paribas entered into the financing agreement to provide USD310 mil for the gas development project sponsored by the Indonesian national oil and gas company, PT Pertamina (Persero). At the same time, Mitsubishi Corporation entered into the long-term Indonesian crude oil off-taking agreement with PT Pertamina, as well.

The finance will be provided for one of the most important Indonesian Government?s gas development projects in South Sumatra operated by PT Pertamina.

Mitsubishi Corporation as a lead arranger, Mitsui & Co, LTD and Sumitomo Corporation will provide USD 217mil with support by Japan Bank for International Cooperation, and BNP Paribas as a coordinating lead arranger, The Bank of Tokyo-Mitsubishi, Ltd., Calyon, ING Bank NV, and Mizuho Corporate Bank, Ltd. will provide USD 93mil.

In this financing scheme, the repayment will be made by the trustee established in U. S. as the borrower, by allocating the sales proceeds of the Indonesian crude oil by Mitsubishi Corporation. Crude oil will be supplied to Mitsubishi Corporation by PT Pertamina based on the long-term off-taking agreement.

By realizing this transaction, Mitsubishi Corporation can extend its financing arrangement function in Indonesia and also establish the long-term stable formation to supply high quality Indonesian crude oil in the market including Japan.

Mitsubishi Corporation is aiming to provide continuously integrated value of the trading house for the clients, by financing service and energy supply services. (end of release)