Ownership of PT Smelting

Ownership of PT Smelting

In The Jakarta Post on Aug. 26 it was mentioned that PT
Smelting, one of the companies recently inaugurated by President
Abdurrahman Wahid, was owned by PT Petrokimia and PT Semen
Gresik.

We object to this news because it is not true, and will cause
wide misunderstanding among your huge numbers of readers, which
include our customers and suppliers.

The true ownership of our shares is as follows:

1. Mitsubishi Materials Corporation: 60.5 percent

2. PT Freeport Indonesia: 25 percent

3. Mitsubishi Corporation: 9.5 percent

4. Nippon Mining and Metals Co. Ltd.: 5 percent

This means that none of our shares are held by PT Petrokimia
Gresik or PT Semen Gresik.

We explained this to the Post journalists when they toured our
plant.

SYAIFUL BACHRI

Senior Manager

Human Resources Section

and General Affairs Section

PT Smelting, East Java