Nov. 28, 2002 : Bank Lippo publishes its financial report in the

Nov. 28, 2002 : Bank Lippo publishes its financial report in the
mass media, stating the bank posted a net profit of Rp 99 billion
and that it had a 24.8 percent capital adequacy ratio (CAR) as of
September 2002.

Dec. 28, 2002 : Lippo submits a second financial report to the
Jakarta Stock Exchange, saying that the bank recorded a loss of
Rp 1.27 trillion and had a CAR of around 4 percent over the same
period as covered by the first report.

March 17, 2003 : The Capital Market Supervisory Agency (Bapepam)
imposes a Rp 2.5 billion fine on Lippo management for misleading
the public.

March 28, 2003 : The Ministry of Finance imposes sanctions on
three appraisers and an auditor who conducted an appraisal of
Lippo's assets and an audit of its financial reports. The
sanctions ranged from written warnings to temporary revocation of
their practice licenses.

April 15 : A shareholders' meeting appoints Joseph Luhukay as the
new president, but retains former controlling shareholder Mochtar
Riady as chairman of the board of commissioners, a decision which
analysts say could derail efforts to instill confidence in the
bank.