Bakrie Land, Dream, Deliver

The Company Accelerates The Development of Sentul Nirwana


JAKARTA, August 18, 2011

an integrated property development company PT Bakrieland Development Tbk. (“Bakrieland”, IDX:ELTY) today held an extraordinary general meeting of shareholders (EGMS) at The Bridge Function Room of Aston Rasuna Hotel, Jakarta. The EGMS was attended by company’s shareholders in total that meets the quorum requirement setforth under applicable regulations.

The EGMS today agreed on the changing of the composition of the Board of Directors as follows:

• President Director & CEO : Hiramsyah S. Thaib
• Director : A. Amri Aswono Putro 
• Director : Feb Sumandar 

As for the composition of the Board of Commissioner remains unchanged as follows:

• President commissioner : Bambang Irawan Hendradi
• Independent commissioner : Lukman Purnomosidi 
• Independent commissioner : Kanaka Puradiredja
• Commissioner : SupartonoCommissioner : Armansyah Yamin

“Changes in the Board of Directors are conducted in line with the development of the company’s requirement for a stronger and professional management that it can continue to improve its value for the shareholders,” thus delivered by Hiramsyah S. Thaib, President & CEO of Bakrieland.  

Today’s EGMS also approved changes in the use of funds generated from the Limited Public Offering (LPO) IV. To comply with the provisions of Bapepam-LK No. X.K.4, such a change must be approved by EGMS.

Changes in the use of funds is taken place in connection with the company’s strategy to accelerate the development of Jonggol as part of the joint liability plan with PT Sentul City Tbk., as presented in the Prospectus LPO IV of the company. The company will also immediately settle the acquisition of 51% shares of PT Bukit Jonggol Asri (BJA) using funds from LPO IV,  where previously planned acquisition of BJA funding sources will be using third-party funds.

Sentul Nirwana  Development

Through BJA Bakrieland on July 23, 2011 has officially launched a prestigious project called Sentul Nirwana. BJA is a developer with the largest land bank in Indonesia of 12,000 Ha land. The first phase of development will be conducted in an area of 600 Ha.

In the first stage of development, Bakrieland will build Jungleland theme park and housing clusters of The Atmosphere and The Breze. Jungleland may be enjoyed by the public in mid 2012, while the housing clusters are scheduled for handover by the fourth quarter of 2012.

In the future, the construction of the integrated mega residential of Sentul Nirwana in Jonggol will be one of the most comprehensive integrated residential compound supported  by commercial areas and family entertainment as well as easy access from various locations in Jabodetabek, either through the Jagorawi toll or through alternative roads.

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About Bakrieland

PT Bakrieland Development Tbk. (Bakrieland) is an integrated property developer in Indonesia (IDX code: ELTY) which has 4 business units i.e. City Property, Landed Residential, Hotels & Resorts, and Property Related Infrastructure. 

• Bakrieland is the integrated property developer that highly implements Good Corporate Governance in its operations.
• Bakrieland has obtained ISO 9001:2008 certificate for quality control management.
• Bakrieland is commited in implementing a sustainble and continuous CSR program as form of its corporate responsibility to its stakeholders, especially communities around Bakrieland’s property projects.

For further information please contact: 

 
PT Bakrieland Development Tbk 
Nuzirman Nurdin
Head of Investor Relations
Ph. 6221 525 7835
Fax. 6221 522 5063
Email: nuzirman@bakrieland.com    
Web: www.bakrieland.com 

Santoso Budi
Corporate Secretary
Ph. 6221 525 7835 
Fax. 6221 522 5063
Email: santoso_budi@bakrieland.com  
Web: www.bakrieland.com