Business separation

We refer to Mr. Riyadi's article in your May 31 edition Bankers shocked by court rulings on derivative deals. We wish to inform you that Hotman Paris Hutapea, whose name was quoted several times in the article, and our firm jointly and amicably agreed to separate effective on May 14, 1999. The announcement of the separation was published in three newspapers, including the Post on May 18, 1999, Page 12. A joint announcement was also published on May 22, 1999. Hotman has established his own litigation firm from May 14, 1999.

RATNA ISKANDAR

Managing Partner

MAKARIM & TAIRA S.

Jakarta