AKRA: Successful Rights Issue 99.9% of the shares have been subscribed upon exercise of the Rights - excess order received for additional 17%

PT AKR Corporindo Tbk., ( AKRA) announces the success of the Rights Issue 2 for capital increase, approved by the Shareholders in the Extraordinary shareholders’ meeting ( EOGM) on January 21, 2010 with subscription of the Rights received from 99.9% of its shareholders totaling 626,992,320 shares out of the 627,658,500 shares offered under the Rights issue 2.

At the end of the Rights subscription period on 10th February 2010, as per schedule published in the Prospectus, the Company has received subscription for new shares and excess orders for over 733 Million shares which is 117% of shares offered under the Rights issue 2.

The Company is happy to announce that with the subscription and excess orders received until 10th February 2010, the entire shares offered in the Rights Issue will be fully subscribed at the close of the Rights Issue. The last date for receipt of funds for the excess order is 12th February 2010 after which the allotment of excess orders will be finalized.

In compliance with the subscription commitments, PT Arthakencana Rayatama (AKRT), majority shareholder has subscribed to all its Rights and currently AKRT owns 59.67% of the new share capital (Provisional).

We thank all the Shareholders, investors for participating in the Rights Issue and for the support and confidence in the Company.

CLSA acted as the International financial Advisor and Bahana Securities as the Domestic financial advisor to the Company for this Rights Issue.

Yours sincerely,
Haryanto Adikoesoemo
President Director

For further information please contact:
Suresh Vembu / Ashish Agrawal,
Commercial Director / Investor Relations Manager

PT AKR Corporindo Tbk.,
Wisma AKR, Lt 7-8, No 5, Jl Panjang, Kebon Jeruk
Jakarta 11530, Indonesia
Ph : +62 21 531 1588 Fax: + 62 21 531 1185
Email : [email protected]
Website : www.akr.co.id