Draft For discussion only

Tanito Coal Group

Indonesia
Copyright 2011 by The Boston Consulting Group, Inc. All rights reserved.

May 24, 2011

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Draft For discussion only

Kiki Barki Tanito Coal Group

Kiki Barki is the chairman of the China Committee at the Indonesian Chamber of Commerce and Industry (Kadin). He is currently fighting a court case against Dr Tahir (Mayapada) on the chairman status for Indonesian Chinese Entrepreneur Association (Perhimpunan Pengusaha Indonesia Tionghoa)

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Copyright 2011 by The Boston Consulting Group, Inc. All rights reserved.

Owner of Tanito Group. Coal industry veteran makes debut, thanks to public offering of his Harum Energy in October. Stock price up 35% since IPO. Retains majority stake of firm run by son Lawrence, who is president commissioner. Big supporter of increased China-Indonesia trade, visits China often. Also has stake in listed Australian miner Cockatoo Coal.

Draft For discussion only

Lawrence Barki President Commissioner of Harum Energy

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Copyright 2011 by The Boston Consulting Group, Inc. All rights reserved.

Lawrence Barki was born in 1971, he graduated from Boston University School of Management, majoring in Finance. He has been involved with the coal industry for over 15 years. He started his career with the Tanito Group in 1996 in the Operations Divisions before heading the Shipping and Marketing Divisions in 2000, where he was responsible for penetrating new markets. Mr. Barki now serves as President Commissioner of the Company and PT Santan Batubara. Mr. Barki is responsible for the supervision of the Company's management and is the key driver behind the Company's expansion plans.

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PT Tanito Harum
PT Tanito Harum ("Tanito Harum") a wholly owned subsidiary of Indonesia's Tanito Coal Group, holds government issued contracts for coal mining in areas covered by the Kutai Block including Kutai-West and Kutai Ephindo and is a consortium member of the Kutai-West PSC. One of Indonesia's first private coal mining companies, Tanito Harum has been operating in the Kutai Basin for more than 20 years. During this time, Tanito Harum has built significant mining and civil engineering infrastructure within the areas covered by the Kutai-West PSC including extensive roadway development throughout the property. The Company's plan is to utilize as much of the existing infrastructure as possible, which Management believes will save the company significant early stage exploration expenditures and support fast track exploration and development of the Kutai-West PSC. In addition, Tanito has successfully completed a formal community relations program which covers exploration and development under the Kutai-West coalbed methane PSC.

The Tanito Coal Group controls a number of coal concessions containing surface minable coal reserves including the operation of two mines in East Kalimantan, PT Tanito Harum and PT Mahakam Sumber Jaya, with a third mine, PT Santan Batubara scheduled to begin production in 2009. With 2008 sales of 7 Mt, Tanito Coal is one of the largest bituminous thermal coal producers and exporters in Indonesia.

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Copyright 2011 by The Boston Consulting Group, Inc. All rights reserved.