On January 13, 2012, PT Surya Artha Nusantara Finance has received a letter from Bapepam-LK stating the effectiveness of the Registration Statement for Public Offering of the Bonds of SAN Finance II for the principal amount of Rp 1.500.000.000.000,- (one trillion five hundred billion Rupiah) offered with an issue price of 100% (one hundred percent) of the principal amount of bonds and consists of 3 (three) series, namely:

Series A: Bonds with fixed interest rate of 7.2% (seven point two percent) per year, with a period of 370 (three hundred seventy) days from the issuance date. Principal amount of Series A bonds being offered is Rp 553.000.000.000,- (five hundred fifty three billion Rupiah) that will be mature on January 24, 2013.

Series B: Bonds with fixed interest rate of 7.7% (seven point seven percent) per year, with a period of 24 (twenty four) months from the issuance date. Principal amount of Series B Bonds being offeredis Rp 140.000.000.000,- (one hundred forty billion Rupiah) that will be mature on January 20, 2014.

Series C: Bonds with fixed interest rate of 8.4% (eight point four percent) per year, with a period of 36 (thirty six) months from the issuance date. Principal amount of Series C bonds being offered is Rp 807.000.000.000,- (eight hundred seven billion Rupiah) that will be mature on January 20, 2015.

In order to issue these bonds, the company has received the the long-term debt securities (bonds) rating at AA (idn) (Stable Outlook) from PT Fitch Ratings Indonesia and at idAA- Indonesia (Double A Minus) from PT Pemeringkat Efek Indonesia.

Bonds issued by the company are secured by the fiduciary security over receivables where the collateral value is not less than 60% (sixty percent) of the principal amount of bonds outstanding, provided that the receivables shall not overdue for more than 90 (ninety) calendar days, and in the event of collateral value is less than the minimum requirement and can not be replaced with other receivables owned by the company, then the company shall provide a cash amounted as the shortfall deposited in the escrow account at a bank designated by the company.