SINGAPORE (Standard&Poor's) May 13, 2005--Standard&Poor's Ratings Services said today that the recent naming of the chief executive and two other senior managers of PT Bank Mandiri (Persero) (foreign currency B+/Positive/B; local currency BB-/Stable/B) by the Indonesian Attorney-General's office as suspects in an alleged lending scandal does not have an immediate impact on the bank's ratings. Standard&Poor's expects the bank to overcome this event because of the likely small size of the loss and the regular rotation of the chief executive. The estimated loss could amount to about one-fifth of the bank's net profit for 2004, which stood at about Indonesian rupiah (Rp) 5.3 trillion (US$578 million). Although this is not a small amount, it
