Release: PT Inco approves a semi-annual interim 2004 dividend of $0.0125/share

JAKARTA, October 18, 2004 ? The Board of Commissioners of PT International Nickel Indonesia Tbk. (the ?Company?) has approved a semi-annual interim 2004 dividend of $0.0125 per share, payable on November 25, 2004 to shareholders of record as of November 8, 2004.

The dividend of $0.0125 per share is equivalent to a dividend of $0.05 per share prior to the split of the Company?s shares on a four-for-one basis effective August 3, 2004. Indonesian shareholders will be paid in the Rupiah equivalent of the U.S. dollar amount, based on the Bank of Indonesia middle rate on November 8, 2004. Foreign shareholders will be paid in U.S. dollars. (end of release)

(All dollar amounts are expressed in United States currency)