PT Profesional Telekomunikasi Indonesia ("Protelindo"), a 99.9994 % owned subsidiary of PT Sarana Menara Nusantara Tbk. ("Company") has entered into a Memorandum of Understanding ("MOU") with PT Hutchison CP Telecommunications ("HCPT") which sets forth the agreed commercial terms for the sale of 1,000 of HCPT's tower sites in Indonesia to Protelindo in early December 2010.
As a follow up action upon the completion of the MOU, Protelindo has entered into Tower Transfer Agreement and Master Lease Agreement with HCPT dated 28 December 2010. As for the first tranche of this transaction, Protelindo has acquired 185 telecommunication towers of HCPT and expecting to complete the transfer of all 1,000 telecommunication towers by the end of 2012.
This announcement has been made in the framework of the compliance with the Bapepam and LK Rule No. X.K.1. on Disclosure of Information that must be made to the public immediately.