PROPOSED ACQUISITION OF CHEMBULK TANKERS LLC

The Board of Directors of PT Berlian Laju Tanker Tbk (the ?Company?) is pleased to announce that on 12 October 2007, Asean Maritime Corporation (?Asean Maritime?), a wholly owned subsidiary of the Company (the ?Buyer?), has entered into a conditional Membership Interest Purchase Agreement (the ?Acquisition Agreement?) to purchase from Chembulk Holdings Inc., the entire issued share capital of Chembulk Tankers LLC including its 11 chemical tankers (the ?Proposed Acquisition?).

Rationale. By the addition of 16 chemical tankers coupled with a proven strong and experienced Chembulk management team, the Company will be the third largest stainless steel chemical tanker operator in the world in terms of capacity and number of ships with 54 vessels of chemical tankers and 820,600 DWT capacity.

FLEET EXPANSION AND COMPANY ACQUISITION

For the year 2007, the Company has added six tankers which consist of two LPG tankers, two stainless steel IMO II chemical tankers and two double hull oil tankers. With these additional tankers in the fleet, the Company currently owns and operates 65 tankers comprised of 38 chemical tankers, 18 oil tankers, eight gas tankers and one FPSO tanker with total capacity of 1.86 million DWT.

STRONG BUY IDR1,730

DBS Group Research . Equity . Small Caps 1 December 2006

JCI: 1,734.8

Price Target : 1-year IDR3,000

Reason for report: Company Update

Catalyst:

rates in 3Q numbers after rates slumped in 2Q;

(ii) dual listing on SGX in Oct 2006.(i) evidence of recovery in oil tanker

KIM ENG estimates TP at Rp2000 (S$0.30) on 12 Sep