Release: PTBA consolidated financial statements as at 30 September 2005

(Jakarta, October 2005)- PT Tambang Batubara Bukit Asam (Persero), Tbk announced its consolidated financial statements as at 30 September 2005 (unaudited). The consolidated financial statements including the consolidated financial statements of PT Tambang Batubara Bukit Asam (Persero), Tbk. and PT Tambang Batubara Bukit Kendi (75% ownership).

Sales Revenue and Volume

In the period of January - September 2005, the Company's sales revenue amounted to Rp 2,179.2 billion, or increased by 15% compared to figure in the same period last year (2004: Rp 1,893.5 billion). The increase in sales revenue was due to an increase in both export and domestic income. Export income rose by 28% to Rp. 740,3 billion, and domestic income (including briquette) rose by 9% to Rp. 1,438.8 billion.

Net Income

The Company's net income in the period of January - September 2005 increased by 36% to Rp. 394.9 billion, from Rp. 267.9 billion in the same period last year.

The increase in net income during the first nine months of this year rsulted from an increase in both weighted average export selling price (2005: US$ 42.4 and 2004: US$ 33.3) and weighted average domestic selling price (2005: Rp. 265,000 and 2004: Rp. 243,000), and also the increase in the foreign-exchange gain.

In the period of January - September 2005, the Company's consolidated EBITDA rose by 32% to Rp. 556.1 billion from Rp. 421.9 billion in the same period last year. EBITDA margin rose by 14.5% to 25.5% from 22.3%.

Net income per share from january - September 2005 rose to Rp. 165, as against Rp. 126 in the same period last year. The weighted average number of ordinary shares outstanding during the year, which for the years ended 30 September 2005 and 2004, were 2,259,686,250 shares and 2,131,805,000 shares, respectively.

Assets and Liabilities

Consolidated total assets per 30 September 2005 was Rp. 2,650 billion, or increasing 15% against total assets per 30 September 2004. Current assets was Rp. 1,929 billion, and curent liabilities was Rp. 459 billion. Current ratio was, therefore, 420% or rose by 21% compared to figure in the same period last year. The increase in current ratio due to the increase in cash and cash equivalents (increased by 11% to Rp. 1,018 billion), operating debts (increased by 48% to Rp. 663,9 billion), and inventories (increased by 40% to Rp. 216.2 billion).

In general, the Company has strong balance sheets as shown in the consolidated balance sheets as at 30 September 2005. The Company is in a solid financial position with net cash and good cash liquidity, as well as a debt fire. These factors give an opportunity to the Company to increase its growth and carry out its business development. (end of release)