ANTAM Signs Heads Of Agreement To Takeover Cibaliung Gold Project

Jakarta, 10 February 2009 - PT ANTAM Tbk (ASX - ATM; IDX - ANTM) is pleased to announce that it has signed a Heads of Agreement (HOA) with ANZ Bank and Arc Exploration to arrange for the transfer of ownership of PT Cibaliung Sumber Daya (CSD). PT CSD operates the Cibaliung gold mine at Pandeglang regency, Banten province, Indonesia. ANTAM acquired Cibaliung in order to continue the gold project after it incurred cost over-runs and PT CSD experienced funding difficulty to continue mining acivities at the project and service its obligations. Prior to this transaction, ARC Exploration (ASX:ARX) is the majority shareholder of PT CSD with 95% ownership and ANTAM holds the remaining 5%.