Shares buy back

Shares buy back

We would like to correct an article published in The Jakarta
Post on Thursday, April 10, 1997, which headline reads: INCO to
buy back shares in bid to boost share price.

While we state that the above title is incorrect, the
President Director and CEO of PT INCO, Mr. Rumengan Musu, has
made the following statement:

The company has never submitted a proposal for share buy back
to the Capital Market Supervision Agency (BAPEPAM), as they were
informed in a meeting with the Chairman of BAPEPAM, Mr. I Putu
Gde Ary Suta, on Sept. 25, 1996, that this was contrary to
BAPEPAM regulations. The company is considering several options
to improve its share price to reflect what it believes to be its
real value.

The company does and will continue to operate its share
dealings within BAPEPAM regulations.

RAY W. WESTALL

Chief Financial Officer

PT International Nickel Indonesia

Jakarta