Annual General Meeting of Shareholders

According to the provisions in the Article 23 paragraph 1 of the Articles of Association of the Company, the Annual General Meeting of Shareholders can be held if attended by the shareholders representing more than 1/2 of the total shareholding with the valid voting rights issued by the company. The meeting was attended by shareholders representing 5,918,777,677 shares or around 63.03 % from all of issued shares of the company, therefore the meeting was declared valid.

After certain necessary discussion, the meeting deliberately decided and approved the following: 

1.	a.	Provide consent on the Directors’ Report on the business activities of the Company for the year 2006 and Provide consent on the Annual Financial Statements that consists of Balance Sheet and Profit and Loss of the Company for the financial year of 31 December 2006 (31-12-2006), audited by Public Accountant Aryanto Amir Jusuf & Mawar.
	b.	Provide approval from the shareholders on the non-dividend payment for the financial year of 2006.
	c.	Provide approval to grant acquit et de charge to the members of the Board of Directors and Board of Commissioner for  the management and supervision conducted for the financial year ended on the 31 December 2006 (31-12-2006) provided that such actions are reflected in the Annual Financial Statement of the Company.
2.	Provide approval to provide authorization and power to the Board of Directors to make the appointment of the registered Public Accountant that will be responsible to audit the accounting records of the Company for the financial year of 2007, together with its remuneration and other necessary requirements.

Extraordinary General Meeting of Shareholders

In regards to the Extraordinary General Meeting of Shareholders, according to the provision of article 26 paragraph 1 of articles of association of the company, it was stated that the meeting can be held if attended by the shareholders representing minimum of 2/3 (two-thirds) of the total shareholding with the valid voting rights issued by the company.  The meeting was attended by shareholders representing 5,921,809,919 shares or around 63.06 % from all of issued shares of the company, therefore the meeting was declared valid.  But, due to the inadequate quorum in this meeting for the first agenda and second agenda, therefore the meeting was declared void.

Bogor, 7 June 2007

PT SIERAD PRODUCE Tbk.

Board of Director