Release: PT Inco: Monthly exploration report ? Jan 2005

Jakarta, February 11, 2005 -- PT International Nickel Indonesia Tbk (PT Inco) is reporting that the exploration activities for the month of January 2005 is continue to focus on the area within the Contract of Work.

Exploration Area:
o Bahodopi in Central Sulawesi
o Matano area in South Sulawesi

Total Cost:
Estimated at US$248,400

Exploration Method:
o Core drilling HQ-3 size + 8" Large diameter drilling (for Bahodopi only)
o Bahodopi will be followed by metallurgical test/smelting test in 2005

Exploration Contractor:
The exploration is conducted by third parties and supervised by Mining Department of PT Inco

Testing Results:
Both Bahodopi and Matano area are still in progress, the field activities moved as per the target and we are waiting initial assay from the holes completed.

Action Plan:
The activity is still ongoing. (end of release)