Indra Bakrie and Nathaniel Rothschild Will Control Vallar Plc

Following the completion of the proposed Acquisition, it is anticipated that the persons named below will sit on the Board of Directors:

Indra Bakrie, Chairman

Nathaniel Rothschild, Co-Chairman

Sir Julian Horn-Smith, Deputy Chairman and Senior Independent Non-Executive Director

Rosan Roeslani, Non-Executive Director

Ari Hudaya, Executive Director, Chief Executive

Andrew Beckham, Executive Director, Finance Director

James Campbell, Executive Director, Business Development and Strategy

Sir Graham Hearne CBE, Independent Non-Executive Director

Lord Renwick, Independent Non-Executive Director

Steven Shapiro, Independent Non-Executive Director

In addition to the above, four new Independent Non-Executive Directors will also be appointed to the Board.

 

Senior Board of Directors

Indra Bakrie - Chairman

Mr Bakrie brings a wealth of corporate experience to Bumi Plc having helped steward numerous businesses to success in the past including Bumi. The Vallar Board of Directors believe Mr Bakrie's appointment will retain the local Indonesian identity of the combined Company and provide strategic guidance in the transitioning of the separate businesses to a single London listed major coal producer.

Nathaniel Rothschild - Co-Chairman

Mr Rothschild is a founder of Vallar and has been instrumental in the conceptualisation and delivery of the Acquisition. His continued role as Co-Chairman is supported by the existing Board of Directors of Berau and Bumi and his extensive experience in the mining sector will be a valuable contribution to Bumi Plc.

Mr Rothschild previously served as Co-Chairman of Atticus Capital LP, and currently serves as Chairman of the international advisory board of UC Rusal Plc, as a member of the board of Barrick Gold Corporation and Chairman of EN+.

An Office of the Chairmen will be established to advise Mr. Bakrie and Mr. Rothschild on maximising shareholder value at the new company. Daren Morris will assume the role of Executive Vice President and Global Head of M&A in the Office of the Chairmen which will initially be based in London.

Sir Julian Horn-Smith - Deputy Chairman and Senior Independent Non-Executive Director ("SINED")

Sir Julian Horn-Smith's appointment as Deputy Chairman and SINED demonstrates the Company's intention to adhere to the highest UK corporate governance standards. His appointment will provide strong leadership and appropriate shareholder representation on the Bumi Plc Board of Directors.

Sir Julian Horn-Smith has spent more than 25 years in the telecommunications sector, after joining Vodafone Group at its foundation. He held a number of senior and general management posts with Vodafone from 1984 to 2006, including as Group Chief Operating Officer from 2001 and then as deputy CEO from 2005. Sir Julian currently acts as a senior advisor to UBS Investment Bank and CVC Capital Partners, and is a member of the board of directors of De La Rue Plc and Lloyds Banking Group Plc.

Rosan Roeslani - Non-Executive Director

The Vallar Board of Directors welcomes Mr Roeslani as Deputy Chairman to Bumi Plc and a leading representative of Berau. He is expected to make an invaluable contribution through his experience of local operations, strategic experience and enthusiasm.

Mr. Roeslani was appointed to the board of directors of Berau Coal Energy in July 2010. He was an independent commissioner of PT Kaltim Prima Coal and PT Arutmin Indonesia, both of which are subsidiaries of PT Bumi Resources Tbk. Mr. Roeslani is also the president commissioner of PT Dwimitra Brawisa Sejahtera, PT Restyle Concept and PT Lupita Amanda, a commissioner at PT Kemang Jaya Raya, PT Redal Semesta and PT Selaras Indah Sejati, and a director at PT Alberta Capital. Mr. Roeslani is a founder and the current chairman of Recapital.

Executive Directors

The appointment of Ari Hudaya as Chief Executive Officer and Andrew Beckham as Finance Director will provide Bumi Plc with a combination of sector experience and extensive knowledge of the Bumi and Berau operations.

Ari Hudaya - Chief Executive

Ari Hudaya currently serves as the President Director of Bumi Resources and has held this position since 2001. He has also held the positions of President Commissioner of each of Arutmin, KPC, Indocoal Kalsel and Indocoal Kaltim since 2007. He currently holds the position of President Director of Enercorp and is a Director of each of IndoCoal Resources, Kalimantan Coal and Sangatta Holdings.

Andrew Beckham - Finance Director

Andrew Beckham was appointed a Director of Bumi Resources in June 2010. He is also the Chief Financial Officer of Bumi Resources and has held this position since December 2006. Mr. Beckham joined Bumi Resources in December 2001 having worked for Allianz, Exxon Mobil and BHP Billiton previously.

James Campbell - Business Development and Strategy Director

James Campbell will remain a member of the Executive Board, assuming the role of Business Development and Strategy Director.