RELEASE: Moody's affirms Adaro's ratings

(Hong Kong, May 19, 2006) -- Moody's Investors Service has affirmed the Ba3 local currency corporate family rating for PT Adaro Indonesia (Adaro) and the Ba3 foreign currency rating for Adaro Finance B.V. The outlook for the ratings remains stable.

Moody's says the upgrade of Indonesia's foreign currency sovereign rating to B1 from B2 does not have any impact on Adaro's ratings.

PT Adaro, headquartered in Indonesia, operates one of the world's largest sub-bituminous coal mines in Kalimantan, Indonesia. IBT, headquartered in Indonesia, operates and manages a coal bulk terminal and port facilities in Pulau Laut, Kalimantan. Adaro is owned by a group of Indonesian and international investors, including the Edwin Soeryadjaya group and Theodore Permadi Rachmat group. The two groups together beneficially own 64% of the company. The balance is owned by international investors, including Noonday Asset Management (a part of Farallon Capital), GIC of Singapore and the Kerry Group.(end of release)