Release: PT Inco declares final dividend for 2005, several key appointments at AGM of shareholders

Jakarta, March 29, 2006 - Shareholders of PT International Nickel Indonesia Tbk (?PT Inco? or the ?Company?) represented at its Annual General Meeting today approved a dividend of $0.085 per share consisting of a final dividend for 2005 in the amount of $0.025 per share and an extraordinary dividend of $0.06 per share The decision to pay an extraordinary dividend of $0.06 per share was made in light of the Company?s strong performance in 2005 and its current strong financial condition. The total dividend of $0.085 per share is payable on May 12, 2006 to shareholders of record as of April 28, 2006. Indonesian shareholders will be paid the Rupiah equivalent of the U.S. dollar amount, based on the Bank of Indonesia middle rate of exchange on April 28, 2006. Foreign shareholders will be paid in U.S. dollars.

An interim dividend for 2005 of $0.025 per share was previously paid on December 8, 2005, bringing the aggregate dividend for the year to $0.11 per share. The same aggregate dividend of $0.11 per share was paid for 2004.

Shareholders also appointed Peter C. Jones as President Commissioner, Rumengan Musu as Vice-President Commissioner and Ronald C. Aelick, Achmad Amiruddin, Robert DJ. Davies, Peter J. Goudie, Takeshi Kubota, Susumu Makino, Soetaryo Sigit and Subarto Zaini as Commissioners for the term ending at the Company?s Annual General Meeting in 2008. They also reappointed Bing R. Tobing and Jan Kees van Gaalen as President Director and Director. respectively. As well, Timothy C. Netscher was appointed as Vice President Director, replacing James K. Gowans who retired from the Company effective just prior to the meeting. The terms of each of the Directors will expire at the Company?s Annual General Meeting in 2008. The firm of Kantor Akuntan Publik Haryanto Sahari & Rekan - PricewaterhouseCoopers was reappointed as the Company?s auditor for the year ending December 31, 2006. (end of release)