EBITDA 1,735 2,554 47% EBITDA Margin 40% 39%

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1 !" ##!# Income Statement (In Rp Billion) Growth GSM: Postpaid % Prepaid 2,796 4,047 45% Interconnection & Inroaming 821 1,025 25% Other GSM (Starter Pack, VoIP, etc.) % Total GSM 4,186 6,189 48% Non GSM % Total Gross Revenue 4,301 6,466 50% Less: Discount (511) (688) 35% Less: COGS (Interconnection, BHP, USO, Starter Pack & Voucher) (731) (1,096) 50% Net Revenue 3,059 4,682 53% Labor Cost (Permanent & Temporary) % Marketing & Selling expenses % Infrastructure Expenses % Support & Overhead Expenses % Total OPEX 1,324 2,128 61% EBITDA 1,735 2,554 47% EBITDA Margin 40% 39% Depreciation & Amortization 1,165 1,526 31% EBIT 570 1,028 80% Other Income/(Expense) Interest expense (401) (416) 4% Interest income % Forex gain/(loss) (362) 345 N/A Others (142) (6) -96% Total Other Expense (883) (25) -97% Profit/(Loss) Before Tax (313) 1,002 N/A Income tax benefit/(expense) 89 (351) N/A Profit/(Loss) After Tax (224) 652 N/A!"" # $ %&' ( ) &"!*"++$ %&'( ), - ((*"$ %&'(.( /'0 +$" %!& "1-*%&' $ %&' /( 0 +-'! #%!&2 "%&'( /, -(*3!3++3-$! $%&',).*3!33/$! $%&'( --'0 +# %&', "1-/* &0 +-$! $%&'/ -)'

2 3# "" $ 3)-*" "#13"3 $" ")'- "3$$.' "3$- "34 5 &" "'6 7 1"" " ""2 """$,' "3$/)'- "3$' Gross Revenue (in Rp billion) 6,466 EBITDA (in Rp billion) 2,554 4,301 1,735 1,287 1,566 1,712 1, Q06 2Q06 3Q06 4Q Q06 2Q06 3Q06 4Q Total opex in Q was Rp 714 billion, which represented 53% increase YoY from Rp 466 billion in Q and 31% increase QoQ from Rp 543 billion in Q FY 2006 opex increased by 61% to Rp 2,128 billion from Rp 1,324 billion in FY The increase in FY 2006 opex was due to the followings: '" "# " $ -* 1 "1 "!23 3 $ &1"' (#!$ )!$ *+! " $,* 1 " #"! & #""" """'!,#&#&*+!"$-* 1 " $89 $$" "/: $' &++"#!-%.- *+!"$-(* 1 $$&"3&23 ;$' <"" $3# 0+8= <8"$2"> Q4 05 Q3 06 Q4 06 YoY QoQ YoY EBITDA % -11% 1,735 2,554 47% EBITDA margin 33% 42% 33% 40% 39% EBIT % -22% 570 1,028 80% "*$!2 %&'((/ % &3&&%&')?5 9= "3$ $ %&') /-?5 9= "3$/'0 +$!"2 %&'/- 3"!3!$% &3!"59=$ %&'),/?59="3$= -%&')?5 9= "3$'@ &$2 "%&'(-( &

3 &$$%&'((--&$$%&'(/'0 + &$2 "%&'-#" "0 +-""$%&'' /!.# Balance Sheet (In Rp Billion) Growth Current Assets Cash and cash equivalents % Trade and other receivables - net % Prepayments % Others % Total Current Assets 1,371 1,183-14% Non-Current Assets 7,983 11,453 43% Total Assets 9,354 12,637 35% Current Liabilities Trade and other payables 1,447 2,125 47% Taxes payable % Deferred revenue % Short term lenders loan & derivatives payable N/A Total current liabilities 2,240 2,342 5% Non-Current Liabilities Trade payables % Deferred tax liabilities N/A Long term bonds 3,401 5,345 57% Provision for employee benefits % Total Non-Current Liabilities 3,484 6,013 73% Total Liabilities 5,725 8,355 46% Equity Share capital & capital surplus 3,401 3,401 0% Retained earnings % Total Equity 3,629 4,281 18% Total Liabilities and Equity 9,354 12,637 35% 0 +&!##2"%&'( (,/ "$(*$ 0 +-$%&' ( /.( 2 "3 3!3&"&!0 "!1&!##2 "%&'(( -/ /*3!33-$%&'. ),/ " $""' &!#'#2 "%&' / -*3!33-$%&' " &1"' "!1&!# '# 3" " 1./* %&' (/ $ - $%&' /, 1 "" $5 9= - A 1' 2&#32 "%&',( (,* 3!33 -$%&'/ ) "!"'

4 ."4 Cash Flow (In Rp Billion) Growth Net cash flow provided from operating activities 1,833 2,861 56% Net cash flow provided from investing activities (3,133) (4,518) 44% Free cash flow (1,300) (1,657) 27% Net cash flow provided from financing activities 1,768 1,367-23% Net (decrease)/increase in cash and cash equivalents 467 (291) N/A Cash and cash equivalents at the beginning of the year % Effect of exchange rate changes on cash and cash equivalents (14) (3) -80% Cash and cash equivalents at the end of the period % #.,"4," "+ #!$#%#2 "%&',( 3!33-$%&'(,// "&"$ " "3&"' #.,"4,"!%#!$#%#2 "%&' -(, 3!33-$%&'/ (// 3!3&"&!' #.,"4,",!!!$#%#2 "%&'( /. 2 33" "$ "" $5 9= - A 1 &1 $0!%@"$59=. &1 $ "&""' +#"!",'# Debts (In Rp Billion) Growth Banks N/A Bonds 3,401 5,345 57% USD Bond 1 3,401 3,131-8% USD Bond 2-2,214 N/A Total debts 4,089 5,345 31% $ "!"$%&- /-""$5 9= /- A 1) 5 9= - A 1(/'35 9= /- 2 """ A 1 3" &$,*'35 9= - 2 """ A 13" &$.'(-*' = /( 3"2 "$2 > Foreign Currency Outlook Moody's Ba3 Stable *) Standard & Poor's BB- Stable *) Upgraded to positive outlook in Feb 07 <" $/( = 3" "# $! 1 " $ $5 9= ( 3!35 9= & )(/'!

5 0 + =?8=< " '( # $ -' 8=<?" &"2 "'(' 2.4 Total Debt/EBITDA (x) EBITDA/Interest Exp (x) Debt/EBITDA EBITDA/Interest Exp %-!- Shareholding structure as of 31 December 2006 Khazanah AIF 16.8% TM* 7.4% 16.0% 59.6% Rajawali** 0.2 % Public * Through Indocel Holding Sdn Bhd which is 100% owned by TM ** Through PT Rajawali Corpora 8" 3 B &1C" <" $ <"" $ 3 B &1 3 $"1 3 B &1 " # 3"33" " $ 38$= "$3#!&&#$ 3< : 4!$933"'0$" = "&&"3<: 4 #" $ $*$ $E "2 3 D $!?"" 7 # && 1%&)& "3'3"2 C"$"#&1 "&' &'2&!#%!# A 1. "#$! 1"$ $ 59= (- 3! 3 59=8" & ) (/' 3$ 3$3! 3!2 5 9= - /.'-*$3 "!$!3! ' 6 A 1,. 59= -! B3 8' 8" 3 3 B &1! &1 $! " 7 1#" $/ 3"86%& "('-*!& '3 1$3 $1"/1"$ $"2 2 ' 6A 1(-. 59= -! 23 84D 3 "'8"3 3B &1!&1$!" 7 1 "

6 #" $/ 3"86%& "')-*!& '32 A 1) (' &" "" =% 8$ && 1%& ('- F.'3"&& 2 "$3"" ''>B4 8F: G9 "" 939 " " = "9 " = 89;"9 ""' 5 Operating Key Performance Indicator Growth Cellular industry # subscriber (million) 51,688 67,500 * 31% Penetration rate cellular (%) 24% 28% * Industry growth 62% 31% Total Minutes of Usage (billion minutes) % Total # subscriber (000) 6,979 9,528 37% Prepaid 6,802 9,141 34% Postpaid % ARPU blended (Rp 000) % Prepaid % Postpaid % BTS BTS 2G 4,324 6,279 45% BTS 3G N/A Total BTS 4,324 7,260 68% Capitalized capex (in Rp Billion) 3,368 4,503 34% * XL's estimate &''! "')"1)-*$ -$('-'3"4 5 2 " 1#1"" "'3" """)'- "3$ $.' "3$-,' "3$/' Subscribers are growing (thousand) 9,528 9,528 8,221 8,388 8, , ,141 9,141 7,973 8,058 8,004 6,802 1Q06 2Q06 3Q06 4Q Prepaid Postpaid 3 $ && " "" 2" )'( &"!/*"$ ', -(*"$,' /'6 &"&" " " 2" /,. 3 " &"! (()* " $ (. 3 " - * " $ /- 3 " / ' 3 " 3 $ " "" 2 " 1 "1 &# #! "" " 2 " 3 #

7 & $# "2 & "$"! " 3"H$93 C 5 B" <9 6 = %; # &! "' $ ARPU (Rp thousand) Prepaid Postpaid Blended 0 + && &"& <%5" 2 %&' %&' (. %&' "&#1'3"<%5" $! "$%&'- %&'-( %&'- ' & " "2 ") " "1(*$ $ 1 - $ "' &" "2 ",94 9 " 1(-*$ $ 1-$.-94 9'!%#!# I #" 2#& ' 2"& &$%&'( (,( &-&$%&'( (' 0 +& %&' -/ & 0 +- $! $%&'/ /, '<" 3 $ $ 8"1,* ++. $ /89 "3 $-((*"$ -/.89"3$/' 3" ""#&"$892 2 &# 2 #! 7 1$ 3#"# " "' Capitalized capex & breakdown (Rp bn) Network build up on track Number of BTS 4,324 4,886 5,606 6, , ,276 4,394 4,324 4,886 5,606 6,052 6, Q4-05 Q1-06 Q2-06 Q3-06 Q4-06 Network Equipment Others BTS 2G BTS 3G $

8 !-#'&#"! & """ " 2 1 ""3! B" &! 2 3 G"'<"$3$ 32 (-B"// -))G" & (/B"() /G""$3$-(-B "/ -G""$ 3$/'3!D$!D3" & $" " ""' 5"-&#) % =! $$# "#&! ""#"' 0" 3"$&B 3 '&! $8" A &" ""!% 3"""'I 33"&! " ""!!3 "2 3"&$%&(-&/"" $ '3&! 2 "#$ /6 (@ # ' 6 ( 6 &23 PT Bagoes Bersaudara (which represents Badan Otonomi PJTKI/APJATI Serumpun Indonesian Labour Company Association for Malaysia and Brunei Darusalam) and New Technology and Innovation Sdn Bhd (NTI) official distributor for X-pax from Celcom Malaysia, launched bundled pack of Jimat starter pack from XL and X-pax from Celcom. X-pax will be used by Indonesian labours who work in Malaysia and Jimat will be used by their families in Indonesia. Under this program, the Indonesian labours who use X-pax will enjoy special tariff of RM 0.45/minute to call Jimat number in Indonesia, and their family will enjoy special tariff of Rp 500 per 30 seconds to call X-pax number in Malaysia and Rp 250/SMS to send SMS to X-pax number. 6(.@# 3( )*+*) '*&! ' 53"&! &&" "" &-3 " $ $$ 3 $" / "!('& )'-) ' <$ / "! $$ 2 &&1' E1 3" $ 3" "" "!" 3 3 "194 91""2 3!%&( &!" '&&3&! 3 " """3 3# $%&,$8" %&/ $ A &%&/ $A '3"&! 2 "# (-A 1.' 6(.@# 3<9 6$$! 233$$ "& $$ $%&()?/"" %&?/""! $$& & 3 " "&#1 $ " "" " 9 ' 3&! 2 "# (.0 1.' %

9 34!=:!=!'I 3 4!=! &"&" "" E1 2 & -4 8& 3$%&)) '5:!=! 3&"&" ""E1 2 &/: 8& 3$%&)) '0"" "! 3" " 2 3!%&'?G8' 5" "#"! <" C" " " = &" :! 8"' " "2 3$"$:!8" E1 :!8"C""!""3%!8' 9= 3"$$" $8"!3!$ %&- %& ( '81 "!8" 8"" ""E1$94 9 & (94 9&1' 0" $ 3" ""%&( $ 8" 3123#($949&1'& &&2 " 1!31#"3#"E 1"'3" " &&1 3!"&# 3 $%&(- $8"A & " "" (, 6 ' 9 "" 2 3 "!3" "& # 3 2 #(!"$$'3"& 2 "# /(= ' /&!"&#"! Business Solution Revenues (Rp bn) """9 "3""32 "3# ' 6 " $ 3 3# 2" $ &" E1 " " 2 " & :94 "#"'3 " " $ # " "" " 3" $!!$!"! " " & "# : # 94 ' Lease Line Internet Service Provider Others "31" "&# &# "#$3 " " "&"3&&! &' 8 """ 9 " #& &# "#" 3" $$$$# &1C" ""1"! 2 33#"& "#!" 3 " "' ""3 && 1 1"! 8 """ 9 " 3" 1,

10 3# * 2 "" # 3 3"! " 3!3 7 1 "" "&#2 33 " "C""$#$#.*' "#"2 $$ 8 """9 ""#" 23 "! 2 "" $ 8 """ 9 " " 3 ' 6$3#""9 $Achieving Company s Profitability by Implementing Convergence Communication Services held in Novotel Hotel, Batam in November "D/: "#" 8 """ 9 "#" $ 3 & " " and demonstrated directly on how to utilize 3G services. On that occasion, it was also explained how to take benefit from 3G application to support business activity such as how to make a video call and how to access internet. 6-@# 8 """9 "&& Malaysian Club Business Council Gathering event held in Malaysian Embassy. During this event, Business Solutions informed the visitors, mostly companies from Malaysia, about XL business solutions services including 3G services. Another Seminar and Exhibition was held at the end of 2006 in Balai Kartini, Jakarta with topic of Enhancing Fixed & Mobile Convergence Solutions through The Implementation of 3G Technology. During the exhibition, Business Solutions demonstrated various services such as Fixed & Mobile Convergence (FMC), launching 3G Corporate Data Plan, i.e. data communication services and broadband access using XL 3G and introduce XL Blackberry. 56 *#"-!3! #!$",.." = : 4 92 " 3$2!""> (' &&#C"& 2 2!"!!!!5 9J/ ' &&I " ""= $ /' &3"!$4 3 8 "13"= $ ' 3"3!"3"!8$B "" -' &&#33!"C"8= "$2 "> -

11 Board of Director President Director Director Director Director Director Director Director Hasnul Suhaimi Joris de Fretes Md Nasir Ahmad P. Nicanor V. Santiago III Hilmi bin Mohd. Yunus Joy Wahyudi Willem Lucas Timmermans &" =" #K123 A $ ( 3 $ &3!"' 3 # 2" 3$ #! & = " 2 3"!!! ' / "$3!" &#"""1 4 1" 83 3!3 K! )'* G3D3@ "83(',*'""31 &1 " " "# $ & 2 1A#"'9 &6()) C" """"""$B" 9 "" : 94 )?(, 2&#3!3E & E && &&"&"2 3$/: "#"$& 8 """9 ""&"#&#"" ' = >/0 1.

12 ##.!# Income Statement (In Rp Billion) Q1 05 Q2 05 Q3 05 Q4 05 Q1 06 Q2 06 Q3 06 Q4 06 GSM: Postpaid Prepaid ,061 1,195 Interconnection & Inroaming Other GSM (Starter Pack, VoIP, etc.) Total GSM ,114 1,265 1,240 1,500 1,645 1,805 Non GSM Total Gross Revenue ,143 1,298 1,287 1,566 1,712 1,900 Less: Discount (37) (105) (171) (198) (81) (201) (166) (240) Less: COGS (Interconnection, BHP, USO, Starter Pack & Voucher) (147) (171) (207) (205) (236) (257) (292) (312) Net Revenue ,108 1,255 1,348 Labor Cost (Permanent & Temporary) Marketing & Selling expenses Infrastructure Expenses Support & Overhead Expenses Total OPEX EBITDA EBITDA Margin 49% 43% 40% 33% 44% 41% 42% 33% Depreciation & Amortization EBIT Other Income/(Expense) Interest expense (109) (111) (97) (83) (103) (103) (105) (105) Interest income Forex gain/(loss) (75) (94) (335) (149) Others (4) (12) (128) 3 (7) (6) (5) 12 Total Other Expense (184) (213) (559) (247) (74) 29 Profit/(Loss) Before Tax (10) (67) (404) Income tax benefit/(expense) (53) (147) (16) (79) (108) Profit/(Loss) After Tax (4) (49) (286)