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Jakarta, January 24, 2012 – PT Reswara Minergi Hartama (Reswara), belonging to the ABM Investama (IDX: ABMM) group of integrated coal mining companies, entered into deals for sales of 2 million tons of coal for 2012. The agreements were between Reswara subsidiary PT Tunas Inti Abadi (TIA) and Subham Corporation Pvt. Ltd, India.

A contract price of approximately US$50-54 per ton for coal that is of 5400-5600 kilocalories (air-dried basis) has been agreed. This price range will be evaluated every three months with reference to the market and a provision for a plus/minus margin of adjustment of 10%, with variation depending on caloric and other contents assessment method.

"We are satisfied with Reswara's achievement thus far during 2012. This gives us an achievement of 45% of TIA's selling target for this year, which was 4.5 million tons. Apart from that, this contract is also very competitive because it provides for a premium on top of standard prices for 5400-5600 kilocalories. If stated in equivalent terms it is around US$45-46, as reported by Argus Coal News," said Reswara President Director Harry Asmar.

Subham Corporation Pvt. Ltd (Subham) is one of six coal traders receiving licenses to supply coal to Indian Government-owned National Thermal Power Corporation (NTPC). The licensed traders may acquire coal through open bidding or else a direct approach. In this case, TIA contracted directly with Subham for supply of coal.

"We are very proud of what TIA and Reswara have accomplished. With the signing of this contract, Subham becomes a strategic partner and direct avenue to NTPC. The term of the deal is one year, but we hope to see the relationship expanding beyond that period," said PT ABM Investama Tbk. President Director Andi Djajanegara.

Andi also said that the achievement was in line with the company's plans for enlarging the role played by PT Reswara as a pillar of ABM's business. "This good news motivates us and other subsidiary business units to make the maximum contribution to our stakeholders, especially to our clients, shareholders and investors," he added.

As background information, ABMM was listed on the Indonesia Stock Exchange (IDX) on December 6, 2011 in an IPO that saw it raise Rp 2.1 trillion, with 1.5 trillion channeled to ABMM and the rest going to Tiara Marga Trakindo (TMT) in connection with an earlier public TMT divestment.

In addition to servicing corporate loans, 70% of total share capital raised will be used to finance expansion within various ABMM business units. Another 6% goes to working capital.