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