MNC EXPLAINED SUPREME COURT’S DECISION TO BAPEPAM
2010 - Jakarta, 15 Jan 2010

On January 7, 2010, the management of PT Media Nusantara Citra Tbk (“MNC”), has met with The Capital Market and Finance Institution Supervisory Agency (Bapepam-LK) to explain the Supreme Court’s decision dated on December 15, 2009 on nullification TPI’s bankruptcy filing by Commercial Court on District Court of Central Jakarta’s decision dated on October 14, 2009.

Also regarding to those matter the management of TPI has met BAPEPAM-LK on January 12, 2010.

On December 15, 2009, Supreme Court has decided that this case, as opposed to Commercial Court decision, is not simple but complicated and not proper to be discussed under Commercial Court. The case should be classified as a civil case under the District Court. The Supreme Court’s decision is final and binding to all parties up to this day.