Release: PT Inco approves the revolving credit facility

(JAKARTA, April 20, 2009) ? Shareholders of PT International Nickel Indonesia Tbk (?PT Inco? or the ?Company?) represented at its Extraordinary General Meeting on Friday, April 17 approved a Short-Term Revolving Loan agreement to be entered into between the Company and Vale International S.A., whereby Vale International S.A. will make available a credit facility of up to US$250 million to the Company to increase its working capital.

Shareholders represented at the Company?s Annual General Meeting on the same day also approved that no dividend be declared for 2008. The decision was made in light of current market conditions. At the same time, the Company is taking care of its future, and investing in large capital projects and developments to help PT Inco grow and operate cost effectively and in an environmentally responsible manner.

Shareholders also approved the acceptance of the resignation of Rumengan Musu as Vice President Commissioner, Achmad Amiruddin and Subarto Zaini as Independent Commissioners. Shareholders approved the appointment of Peter Poppinga as Vice President Commissioner and Nicolaas D. Kanter and Arief Surowidjojo as Independent Commissioners, each with a term ending at the Company?s Annual General Meeting of Shareholders in 2010. They also reappointed Ciho D. Bangun as Director. The terms of the Director will expire at the Company?s Annual General Meeting in 2011.

The firm of Kantor Akuntan Publik Haryanto Sahari & Rekan (the member firm of Pricewaterhouse Coopers International in Indonesia) was reappointed as the Company?s auditor for the year ending December 31, 2009. (end of release)