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• On behalf of TM, we are pleased to announce that EFC, a wholly-owned subsidiary of Excelcomindo which in turn is a 56.9% subsidiary of TM, proposes to issue approximately USD250 million senior guaranteed fixed rate notes.

• The proposed principal terms of the Notes are set out in Table 1.
  
  The issue price, interest, tenure, issue size and optional redemption terms of the Notes will only be finalised after a book-building process to determine the market demand for the Notes. These terms will be announced upon the issuance of the Notes.

• The net proceeds from the sale of the Notes will be used to fund Excelcomindo's continued development of its cellular network and for its general corporate purposes.

• • • The Proposed Issue will not have any effect on the share capital and shareholdings of the substantial shareholders as no TM shares will be issued in conjunction with the Proposed Issue.

• • • The Proposed Issue will not have any effect on the NTA of the TM group.
      
      The effect of the Proposed Issue on the earnings per share of the TM group for the financial year ending 31 December 2006 depends on the specific usage of the funds raised.

• • • The Board of Directors of TM does not expect the Proposed Issue to have a material impact on the dividend policy of TM for the financial year ending 31 December 2006.

• The Proposed Issue is not subject to any authorities' approval.

• The Directors and/or major shareholders of TM and/or persons connected to them do not have any interest in the Proposed Issue.

• The Board of Directors of TM is of the view that the Proposed Issue is in the best interest of the TM group.

• CIMB and UBS Investment Bank have been appointed as the Joint Global Coordinators for the Proposed Issue.
  
  CIMB, UBS Investment Bank and JP Morgan have been appointed as the Joint Bookrunners and Joint Lead Managers for the Proposed Issue.