Vallar PLC Board appointments

(November 23, 2010)--Further to our announcement on 16 November 2010 regarding the acquisition of holdings in PT Bumi Resources Tbk ("Bumi") and PT Berau Coal Energy Tbk ("Berau"), Vallar PLC ("Vallar") is pleased to announce the appointment to the board of Indra Bakrie as Chairman and Rosan Roeslani as a non Independent Non-Executive Director.

In addition, for operational reasons, the Board of Vallar has invited Ari Hudaya, CEO of Bumi, to join the Board as Chief Executive Officer. This is to ensure that in the period before the closing of the transactions with Berau and Bumi, there is a high level of co-ordination with Vallar and full involvement in future planning across the group.

Indra Bakrie
Mr Bakrie brings a wealth of corporate experience having helped steward numerous businesses to success in the past, including Bumi. The Vallar Board of Directors believe Bakrie's appointment will retain the local Indonesian identity of the combined company and provide strategic guidance in the transitioning of the separate businesses to a single London listed major coal producer.

Ari Hudaya
Ari Hudaya currently serves as the President Director of Bumi and has held this position since 2001. He has also held the positions of President Commissioner of each of PT Arutmin Indonesia ("Arutmin"), PT Kaltim Prima Coal ("KPC"), Indocoal Kalsel and Indocoal Kaltim and was a former President Director of PT Bakrie & Brothers Tbk. He currently holds the position of President Director of Enercorp and is a Director of each of IndoCoal Resources, Kalimantan Coal and Sangatta Holdings.

Rosan Roeslani
Roeslani was appointed to the board of directors of Berau in July 2010. He was an independent commissioner of KPC and Arutmin, both of which are subsidiaries of Bumi. Roeslani is also President Director of Berau and Commissioner of PT Mahaka Media Tbk. Mr. Roeslani is a founder and the current Chairman of Recapital. (end of release)