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News

Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

BackJun 06, 2006

>> PART I

1. Date of notice to issuer * 06-06-2006

2. Name of Substantial Shareholder * Anthoni Salim

3.	Please tick one or more appropriate box(es): *
	Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

>> PART II

1. Date of change of [Select Option]

2. Name of Registered Holder

3. Circumstance(s) giving rise to the interest or change in interest [Select Option]

# Please specify details

4. Information relating to shares held in the name of the Registered Holder

No. of [Select Option] held before the change
As a percentage of issued share capital	%

No. of N.A. which are subject of this notice
As a percentage of issued share capital	%

Amount of consideration (excluding brokerage and stamp duties) per share paid or received

No. of N.A. held after the change
As a percentage of issued share capital	%

>> PART III

1. Date of change of Interest 02-06-2006

2. The change in the percentage level From 63.33 % To 50.67 %

3. Circumstance(s) giving rise to the interest or change in interest # Others

# Please specify details

(i) Distribution of 25,053,168 shares in the capital of Gallant Venture Ltd. ("Gallant Shares") by PT Herwido Rintis ("PT HR") to the shareholders and creditors of Alliance Technology and Development Limited (under judicial management) pursuant to a scheme of arrangement; and
(ii) placement of 280,000,000 Gallant Shares by Parallax Venture Partners XXX Ltd ("PVP").

Anthoni Salim has an interest in more than 50% of the share capital of PT Dornier Indonesia. PT Dornier Indonesia holds more than 50% of the share capital of PT Gadingpratama Mandiri, which in turn holds more than 50% of the share capital of PT HR. As such, Anthoni Salim is deemed to be interested in the Gallant Shares held by PT HR.

Anthoni Salim has an interest in more than 50% of the share capital of Dornier Profits Limited, which in turn holds more than 50% of the share capital of PVP. As such, Anthoni Salim is deemed to be interested in the Gallant Shares held by Dornier Profits Limited and PVP.

Anthoni Salim has an interest in more than 50% of the share capital of PT Elitindo Citralestari. As such, Anthoni Salim is deemed to be interested in the Gallant Shares held by PT Elitindo Citralestari.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

The change in the percentage level is the result of a series of transactions.

>> PART IV

1.	Holdings of Substantial Shareholder , including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	1526464944
As a percentage of issued share capital	0 %	63.33 %
No. of shares held after the change	0	1221411776
As a percentage of issued share capital	0 %	50.67 %

Footnotes

Pursuant to a sale and purchase agreement entered into between Gallant Venture Ltd. and PT HR, PT HR acquired 532,064,886 Gallant Shares in April 2006, resulting in increase in its shareholding to 532,064,906 Gallant Shares.

Pursuant to a sale and purchase agreement entered into between SembCorp Parks Holdings Ltd and Anthoni Salim, Dornier Profits Limited acquired 84,000,000 Gallant Shares in April 2006.

Pursuant to a sale and purchase agreement entered into between Gallant Venture Ltd. and PVP, PVP acquired 907,293,350 Gallant Shares in April 2006.

Pursuant to a sale and purchase agreement entered into between Gallant Venture Ltd. and PT Elitindo Citralestari, PT Elitindo Citralestari acquired 3,106,688 Gallant Shares in April 2006.

The percentage level is calculated based on the total issued share capital of 2,410,423,184 shares.

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