PT Bhakti Investama, Tbk

1. 1. In H1 2008, PT Bhakti Investama Tbk ("Bhakti Investama, stock code : BHIT") reported a significant increase in top line. Total consolidated revenues rose to Rp2.90 trillion, up by 35% compared to the same period of last year which was recorded at Rp2.14 trillion.
   
   
2. According to Hary Djaja, CEO of Bhakti Investama : "Reason for the excellent growth in H1 2008 compared to the same period last year was triggered by the increase in revenues of PT Global Mediacom Tbk ("Mediacom, stock code : BMTR"), derived from the followings:
   
   • - The rise of revenues stemming from content and advertising based media that has jumped from Rp1.30 trillion to Rp1.67 trillion (29% increase)
   • - The rise of revenues from telecommunications and IT sectors from Rp452 billion to Rp557 billion (23% increase), and
   • - Our subscriber based media subsidiary (Indovision) also contributed a significant increase from Rp131 billion to Rp360 billion to Bhakti Investama. Worth to note that the financial statements of Indovision were consolidated into Mediacom since the Q2 of 2007".
     
     
3. "Likewise, consumer financing business also booked a significant increase in revenues. The revenues recorded almost double from Rp36 billion in H1 2007 to Rp72 billion in H1 2008. This was an extraordinary result of our strategy implementation to boost our financial services business," said Hary Djaja.
   
   
   
   
4. Bhakti Investama successfully booked a consolidated EBITDA of Rp831 billion in H1 2008, a rise of 5% from Rp791 billion, meanwhile the consolidated operating profit slightly declined from Rp538 billion to Rp510 billion compared to the same period last year. This was due to the increase of direct cost from Rp745 billion to Rp1.22 trillion and general and administrative expenses from Rp604 billion to Rp848 billion, respectively.
   
   
5. In H1 2008, Bhakti Investama recorded a consolidated net profit of Rp109 billion, declined from Rp571 billion of the same period of last year. The latter was attributable from the gain of the sale of PT Media Nusantara Citra Tbk ("MNC") shares by Mediacom during the IPO of MNC in 2007.
   
   
6. Hary Djaja further explained : "Our achievement of Rp109 billion in net profit was admirable for Bhakti Investama in the midst of Indonesia economic downturn. We believe there will be plenty of opportunities in 2008 for Bhakti Investama to harness as an investment company. We have proven that we were able to maintain the revenue growth of the Company and its subsidiaries in H1 2008. Furthermore, we believe with our sound financial platform coupled with the efficiency and synergy among our subsidiaries, going forward we will continue to foster the Company's growth organically and through acquisitions".
   
   
7. In line with the increase of the Company's performance, the total assets also gained from Rp17.15 trillion to Rp20.94 trillion. Total liabilities and stockholders' equity also increased from Rp8.75 trillion and Rp3.06 trillion to Rp9.39 trillion and Rp5.72 trillion, among others conceivable to the Rights Issue of Bhakti Investama performed in the second semester of 2007, raising US$400 million, comprising of newly issued shares of US$230 million and Convertible Bond of US$170 million.

For further information, please contact :


PT Bhakti Investama Tbk
Corporate Secretary / Investor Relations
Menara Kebon Sirih 5th Floor
Jl. Kebon Sirih Kav 17-19
Jakarta 10340
Phone : +6221 392 5000
Fax : +6221 3983 6870
Email : This email address is being protected from spam bots, you need Javascript enabled to view it
www.bhakti-investama.com

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