RESPONSE TO AN ANNOUNCEMENT BY THE CORRUPTION
ERADICATION COMMISSION OF INDONESIA IN THE RIAUPOS AND
MEDIA INDONESIA NEWSPAPERS ON 6 MARCH 2008
The Board of Directors of First Resources Limited (“the Company”) wishes to
announce that the Corruption Eradication Commission of Indonesia (“Komisi
Pemberantasan Korupsi” or “KPK”) had announced in the Indonesian
newspapers, RiauPos and Media Indonesia, on 6 March 2008 that they will
auction several properties in relation to a court case relating to Martias, one of
the founders and former shareholders of the Company. Three of the assets
mentioned are owned by the Company’s Indonesian subsidiaries, specifically
PT Ciliandra Perkasa, PT Panca Surya Agrindo and PT Perkasa Intisawit
Perkasa. These assets represent plantation and milling assets.
The Company has appointed a legal counsel who has advised that there is no
legal basis for such actions. The Company will be challenging any such action
in the courts of Indonesia.
By Order of the Board
Ciliandra Fangiono
Director & Chief Executive Officer
6 March 2008