DECREE OF MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA

NUMBER: 469/KMK.017/1995
ABOUT
ESTABLISHMENT AND DEVELOPMENT OF VENTURE CAPITAL

Article 1
Total paid-up capital or savings and mandatory savings Venture Capital Company
determined as follows :
(a) national private company at least amounted to Rp 3,000,000,000 (three
billion rupiahs);
(b) Joint Venture Company at least Rp 10,000,000,000 (ten billion rupiahs);
(c) Cooperation at least Rp 3,000,000,000 (three billion rupiahs).

Article 2
For Permission mcmperoleli usahsi scbagainiaiia datum referred to Article 10
paragraph (1) of Decree No. Financial Menterl 1251/KMK.013/1988 tauggal
December 20, 1988 tentangg Provisions and Procedures for Implementation of
Financing Agency, as last amended by Decree of the Minister of Finance No.
468/KMK.017 / 1995 dated October 3, 1995, Venture Capital Companies apply to
the Menteri, enclosing :

Article 3
This decision is effective from the date of enactment.
For every person knows it, ordered the announcement of this decision by placing
it in State Gazette of the Republic of Indonesia.

DECREE OF MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA

NUMBER: 58/KMK.017/1999
ABOUT
MONITORING ACTIVITY OF VENTURE CAPITAL COMPANIES

Article 1

(1) Guidance and supervision of activities of regional venture capital

company conducted by the Ministry of Finance.
(2) Implementation of regional venture capital activities supervision as
referred to in paragraph (1), conducted by the Directorate General of
Financial Institutions with the assistance of PT Bahana Artha Ventura.

Article 2

Further regulations concerning the authority and scope of supervision,

responsibilities, and procedures for reporting the implementation of supervision
by PT Bahana Artha Ventura referred to in Article 1, paragraph (2), defined in the
Circular Letter of the Directorate General of Financial Institutions

Article 3

This decision is effective from the date of enactment.

For every person knows it, ordered the announcement of this decision by placing
it in State Gazette of the Republic of Indonesia.

DECREE OF MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA

NUMBER: 250/KMK.04/1995

ABOUT

ITS SMALL AND MEDIUM BUSINESS PARTNER OF VENTURE CAPITAL

COMPANIES AND TREATMENT OF TAXATION OF INVESTMENTS CAPITAL
VENTURE CAPITAL COMPANIES

Article 1
Companies small and medium business partner of venture capital firms as
referred to in Article 4 paragraph (3) letter j number (1) of Act No. 7 of 1983 as
last amended by Act No. 10 of 1994 was the year the company had net sales do
not exceed Rp 5,000,000,000.00 (five billion rupiahs).

Article 2
(1) capital investment venture capital firms in each company
performed during the company's business partner business
partner has not been selling shares on the stock exchange and for
a period not exceeding 10 (ten) years.

(2) Income for a share of profits received or accrued by the venture

capital company from investments in other companies business
partner referred to in Article 1 which comply with the provisions
referred to in paragraph (1), not an object of Income Tax.

(3) If the company's business partners to sell its shares on the stock
exchanges, venture capital company has to sell their shares at
the company's business partner at the latest 36 (thirty six)
months since the company's business partner is allowed by the
Capital Market Supervisory Agency to sell its shares on the stock
exchange.

(4) Income for a share of profits received or accrued by the venture

capital company from investments in other companies business
partner referred to in Article 1, after the expiration of the period
referred to in paragraph (1) or paragraph (3), constitute a taxable
income tax, unless the share of profits to meet the provisions of
Article 4 digits (3) f of Law No. 7 of 1983 as last amended by Act
No. 10 of 1994.
Article 3
Venture capital firms must record separately the income which is the object of
income tax, and income which is not an object of Income Tax.

Article 4
With the promulgation of this Decree, the Decree of the Minister of Finance No.
227/KMK.01/1994 June 9, 1994 on Company Business Sectors Business partner of
Venture Capital Company and Tax Treatment of Equity and / or Transfer of Equity
Venture Capital Company declared not apply.

Article 5
Further provisions concerning the implementation of this decision determined by
the Director General of Taxation.

Article 6
This decision came into force on January 1, 1995.
For every person knows it, ordered the announcement of this decision by placing
it in State Gazette of the Republic of Indonesia.