TBIG Obtains Shareholder Approval for Acquisition of Indosat Towers, Sees Increased Organic Growth in 2012

JAKARTA, 25 April 2012 – At today’s Extraordinary General Shareholders Meeting of PT Tower Bersama Infrastructure Tbk. (“TBIG”), it was resolved to issue 239,826,310 new shares to PT Indosat Tbk. (“Indosat”) to partially fund the acquisition of 2,500 telecommunication towers from Indosat.  The total purchase consideration is US$406 million.

TBIG’s COO, Herman Setya Budi, stated: “these are high-quality towers situated in desirable locations and so we feel confident that over time we will be able to attract more tenants to use space on these towers.” 

TBIG also held its Annual General Shareholders Meeting today, where it was resolved not to declare a dividend at this time. TBIG’s CFO Helmy Yusman Santoso commented, “The first quarter of 2012 was one of our best quarters in terms of organic growth.  We generated revenue amounting to Rp310 billion and EBITDA amounting to Rp245 billion, which represent a 45% increase in revenue and a 47% increase in EBITDA versus the comparable three month period of 2011.  Using these first quarter results on an annualized basis, total revenue reached Rp1,238 billion, or 28% higher than the 2011 full year revenue.  In light of this exciting level of organic growth as well as the Indosat acquisition, we feel that our immediate focus should be on preserving our capital to capture maximum growth.” 

About PT Tower Bersama Infrastructure Tbk:
PT Tower Bersama Infrastructure Tbk. (“TBIG”), is a provider of telecommunications infrastructure for the placement of BTS by telecommunications operators in Indonesia. As of 31 March 2012, TBIG owns and operates 5,100 telecommunication sites serving 7,680 tenants, and this amount continues to grow in line with the high demand from telecommunications operators. TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.

For more information, please contact:

Corporate Secretary:
Helmy Yusman Santoso – Tower Bersama Group
Phone: (62-21) 2924 8900
Email: corporate.secretary@tower-bersama.com 

Investor Relations:
Email: investor.relations@tower-bersama.com