CitraLand - Ciputra Development

PT CIPUTRA DEVELOPMENT TBKBUSINESS PRESENTATIONAugust 2011

Corporate StructureCIPUTRARELATED CO.PUBLIC/OTHERS42% 58%PT CIPUTRA DEVELOPMENT TBK(15,165,815,994 shares @ Rp 250)Listed on IDXListed on IDX99.99%99.99% 99.99% 99.89%62.66%54.72%33.25%RIDGE CAPITALEnterprises LimitedPT CIPUTRA RAYASEJAHTERAPT CIPUTRARESIDENCE& SubsidiariesPT CIPUTRA GRAHAMITRA& SubsidiariesPT CIPUTRA INDAH& SubsidiariesPT CIPUTRA SURYATBK& SubsidiariesPT CIPUTRAPROPERTY TBK& Subsidiaries33.25%DEAUMONTInvestment LimitedCitraRaya HospitalTangerangCitraRayaTangerangCitraGarden CityJakartaCitraGardenBanjarmasinCitraLandBanjarmasinCitraIndahJonggolCitraLandPekanbaruCitraLandSurabayaCiputra GolfSurabayaCiputra Mall & HotelJakartaCiputra Mall & HotelSemarangGrand ShenyangShenyang, ChinaCitraGrand CityPalembangCitraLand CitySamarindaCiputra WorldSurabayaSomerset AptJakartaCitra BukitIndahBalikpapanCitraHarmoniSidoarjoCiputra WorldJakartaCitraLand CelebesMakassarCitraGardenMakassarCitraGreen DagoBandungCitraLand NGKJambiCitraGardenPekalonganCitraGardenSidoarjoThe Taman DayuPandaanCitraGardenLampungCitraSun GardenSemarangCitraLandKendariCitraLandDenpasarDIPO Business CenterJakartaCTRP GroupCTRS GroupPT Ciputra Development Tbk - Business Presentation 02

Corporate MilestoneCapital raising & corporate actions STRENGTHENING OUR FINANCIAL POSITION TO SUPPORT BUSINESS EXPANSION………1994 : IPO and listing on JSX1995 : Issuance of Notes (USD 100 million)1996 :- Rights issue I- Listing on SSX- Issuance of bond (Rp 150 billion)- Issuance of TLCF (USD 25 million)(Transferrable loan certificate facility)1997 : Economic crisis hitIndonesia. Start of debt restructuringprocess1999 : PT Ciputra Surya Tbk(CTRS) listed on JSX2000 : Bonus shares distribution2006 :- Issuance of 2.3 billion shareswithout pre-emptive rights in relation with debtsettlement process- Rights Issue II2007 : IPO of PT Ciputra Property Tbk (CTRP)1981Establishment1984 – 1996Growth1997 – 2005Restructuring2006 – PresentExpansionDeveloped and launched:Developed and launched:Established underthe name of PTCitra HabitatIndonesia1984 : CitraGarden City , our first project,in West Jakarta1993 :- CitraLand ,our first and largest townshipproject in Surabaya,- Ciputra Mall & Hotel Jakarta, our firstcommercial project,1994 : CitraRaya Tangerang, our largesttownship development project, covering anarea more than 2,700 haProject development MORE THAN 25 YEARS EXPERIENCE ………2005 : Launched CitraGardenLampung in Sumatra and CitraGardenBanjarmasin in Kalimantan, markingthe beginning of business expansionto outer Java2007 : Ciputra World Surabaya2008 : Ciputra World Jakarta2009 : CitraLand Celebes in Makassar, the firstproject in Sulawesi2010 : CitraGarden Makassar, CitraGreenDago Bandung,2011 : CitraSun Garden Semarang, CitraLandNGK Jambi, CitraLand Pekanbaru, CitraLandKendari, CitraGarden Pekalongan, DIPOBusiness Center , CitraLand DenpasarCurrent profile:With more than 30 projects,CTRA is now one of the largestand most diversified propertycompanies in IndonesiaPT Ciputra Development Tbk - Business Presentation 03

Core BusinessResidential Development(Selling Income)Commercial Property Development & Management(Recurring Income)Township Development Residential Project CondominiumShopping Mall Hotel Serviced Apartment Others*Successfully developed 2,500 ha with more than 60,000 unitsSuccessfully developed 2 integrated mall and hotel (63,000 sqm & 494 rooms);a serviced apartment (203 units) and a 27-hole golf course.*Golf course and water parksREVENUES CONTRIBUTION72%28%77%23%80%20%2009 20101H 2011PT Ciputra Development Tbk - Business Presentation04

Competitive StrengthBUSINESS PROSPECTIncrease inhousingneedsUrbanizationtrendsChange incustomers’lifestyleLowmortgageratePotentialeconomicgrowthGovernmentstimulusplanStablepoliticaloutlookFocus on real estate businessWe are wellpositioned in Indonesia’sproperty outlook throughthe following factors:Steady launch and developmentof pipeline projectsMost diversified in target markets,products offered & project locationsReputable brand & experiencedmanagement teamLarge land bank at prime locations tosupport future growthPT Ciputra Development Tbk - Business Presentation 05

Geographic Reach IndonesiaCitraLandCitraLand NGKCitraGrand CityCitraGardenCitraLandCitra BukitIndahCitraLand CityCitraLandKendariprojects in 19 citiesSUMATRAPekan BaruKALIMANTANSamarindaJambiPalembangBanjarmasinBalikpapanKendariCitraGardenCitraGarden CityCitraRayaCitraIndahB. LampungTangerangJakartaBandungCitraGreen DagoPekalonganBogorJAVASemarangSurabayaSidoarjoPandaanDenpasarMakassarCiputra Mall & HotelSomerset Grand CitraCiputra WorldCitra Raya HospitalDIPO Business CenterCitraGardenCiputra Mall & HotelCitraSun GardenCitraLandCitraHarmoniCitraGardenCitraIndahThe Taman DayuCiputra GolfCiputra WorldCitraLandCitraLand CelebesCitraGarden238Townships &residential projectsCommercialproperty projectsPT Ciputra Development Tbk - Business Presentation 08

To simplify the presentation of the analysis, we combined the countries of origin into 14 regions oforigin based upon a slightly adjusted version of the United Nations Statistics Division’s compositionof macro geographical regions.3.5 Control variablesBesides the 2008 GDP per capita from the World Bank (2012), all controls variables are obtainedfrom the PISA student and school surveys. The control variables at the student level are gender, age,parental background, whether the student is in (pre-)vocational education as opposed to generaleducation and whether the students is in upper secondary school as opposed to lower secondaryschool. Parental background is measured by an index that describes the student’s economic, social,and cultural status. An internationally comparable version of education levels (lower versus uppersecondary education) is based on the International Standard Classification of Education (ISCED) level.We did not include variables available in PISA regarding student’s studying efforts, because theymight be both intermediary and control variables at the same time. Moreover student’s studyingeffort indicators of 15-years-old students have a weak validity.The control variables at the school level are school composition, a number of school input variables,and a range of other school characteristics. The school average and variation in parental backgroundand the percentage of students in a school who speak a language other than the test language athome measure different school composition aspects. School inputs are the student-teacher ratio,teacher shortages, shortage in instruction material, and whether the school is responsible for thecurriculum and assessment. Other school characteristics are the school type (public, privategovernment-dependent, or private government-independent school), whether school achievement istracked by an education authority; school competition in the area, school location, school size, andthe use of ability grouping.4. Estimation MethodWe use random effect models, which are estimated using maximum likelihood, to take into accounterror terms for countries, schools, and individuals. Equation (1) below shows the model where welook at the relation between tracking (#ofTracks c ) and migrant students’ performance (Test isc ),taking into account school selection policies (vector EntrReq sc , which contains two dummies forschool policies regarding prior performance), for student i in school s in country c. Our main interestlies with the interaction EntrReq sc ∗ #ofTracks c ′ . We control for a vector of individualcharacteristics, including parental background (Student isc β 1 ), a vector of school characteristics(School sc ) and GDP per capita (GDPpc c ). Equation (2) looks at whether the relation betweenparental background (PB isc ) and number of tracks differs when school policies are taken intoaccount. To look at these differential effects our main interest lies with the interaction PB isc ∗#ofTracks c ′ . Separate error terms for countries (u c and v c ), schools (u sc and v sc ), and individuals(ε isc and ε isc ) are necessary, since students are nested within schools within countries. If we wouldignore the nested data structure, we would implicitly assume that all observations are independentfrom each other. This would lead to a downwards bias of the standard errors. More attention to aTRACKING, SCHOOLS’ ENTRANCE REQUIREMENTS AND THE EDUCATIONAL PERFORMANCE OF MIGRANT STUDENTS 11

CTRA ProjectsCitraGarden CityJakartaPT Ciputra Development Tbk - Business PresentationLocation : Kalideres, West JakartaLaunch : 1984Development plan : 450 haDeveloped area : 344 haMarket segment : Middle-upUnit sold : 9,149 unitsOthers : Our first and largest residential project in WestJakarta, near the airport10

CTRA ProjectsCitraRayaTangerangCitraIndahJonggolLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Tangerang, West of Jakarta: 1994: 2,760 ha: 730 ha: Middle-low: 21,786 units: Township development withthe largest land bank withinthe CompanyLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Jonggol, South of Jakarta: 1997: 550 ha: 328 ha: Middle-low: 14,502 units: City of Nature, that offers abeautiful and refreshingenvironmentPT Ciputra Development Tbk - Business Presentation 11

CTRA ProjectsCitraGardenBanjarmasinLocation : Banjarmasin, South KalimantanLaunch : September 2005Development plan : 10 haDeveloped area : 10 haMarket segment : Middle-upUnit sold : 220 unitsOthers : Our first project in Kalimantan.A joint operation project.CitraLandBanjarmasinLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Banjarmasin, South Kalimantan: November 2009: 40 ha: 17 ha: Middle income: 371 units: Extension of CitraGarden Banjarmasin.A joint operation projectPT Ciputra Development Tbk - Business Presentation 12

CTRA ProjectsCitraLand CitySamarindaCitra BukitIndahBalikpapanLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Samarinda, East Kalimantan: June 2007: 93 ha: 29 ha: Middle-up: 354 units: A joint operation projectLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Balikpapan, East Kalimantan: May 2008: 21 ha: 10 ha: Middle-up: 191 units: A joint operation projectPT Ciputra Development Tbk - Business Presentation 13

CTRA ProjectsCitraGrand CityPalembangLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Palembang, South Sumatra: August 2008: 160 ha: 11 ha: Middle income: 535 units: A joint operation projectPT Ciputra Development Tbk - Business Presentation 14

CTRA ProjectsCitraLand CelebesMakassarCitraGardenMakassarLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Makassar, South Sulawesi: March 2009: 30 ha: 16 ha: Middle-up: 360 units: Our first project in Sulawesi.A joint operation projectLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Makassar, South Sulawesi: May 2010: 15 ha: 4 ha: Middle income: 208 units: Extension of CitraLand Celebes. A joint operationprojectPT Ciputra Development Tbk - Business Presentation 15

CTRA ProjectsCitraGreen DagoBandungLocation : Dago Atas, North ofBandungPre-launch : August 2010Development plan : 70 haDeveloped area : 5 haMarket segment : Middle-upUnit sold : 27 unitsOthers : A joint operation projectPT Ciputra Development Tbk - Business Presentation 16

CTRA ProjectsCitraLand NGKJambiNEWLocation : Kota Baru Jambi, south westof JambiLaunch : January 2011Development plan : 35 haDeveloped area : 8 haMarket segment : Middle and middle-upUnits sold : 22 unitsOthers : A joint venture project. Tobecome the first green housingin communityPT Ciputra Development Tbk - Business Presentation 17

CTRA ProjectsCitraLandPekan BaruNEWLocation : Pekanbaru,RiauLaunch : February 2011Development plan : 20 haDeveloped area : 5 haMarket segment : Middle-upUnits sold : 176 unitsOthers : A joint venture project.PT Ciputra Development Tbk - Business Presentation 18

CTRA ProjectsCitraGardenPekalonganNEWLocation : Pekalongan,Central JavaLaunch : June 2011Development plan : 10 haUnits sold : 9 unitsMarket segment : Middle-upOthers : A joint operation project.PT Ciputra Development Tbk - Business Presentation 19

CTRA ProjectsGrand Shenyang International CityShenyangPROJECTLOCATIONNairportSHENYANG CITY MAPLocationLaunchDevelopment planMarket segmentOthers: Shenyang, Liaoning, China: 2H 2011 (estimated): 313 ha: Middle-up: Our first overseas project. A jointventure township projectStage 1• Low rise development :• Sports park + clubhouse development• Land area : approx. 9.6 Ha gross• Saleable GFA approx. 35.200 sqmPT Ciputra Development Tbk - Business Presentation 20

CTRA ProjectsCitraRaya HospitalTangerangCTRA is developing a general hospital inTangerang, within CitraRaya project. Thehospital will have 126 wards.Total investmentTotal areaStart ConstructionStart OperationOthersOtherOtherss: ± IDR 100 billion: 1.2 ha: 2H 2010: 2H 2011 (estimated): Our first healthcare projectPT Ciputra Development Tbk - Business Presentation 21

CTRS ProjectsCitraLandSurabayaLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: West Surabaya: 1993: 1,700 ha: 650 ha: Middle-up: 11,822 units: Our largest townshipdevelopment in SurabayaPT Ciputra Development Tbk - Business Presentation 22

CTRS ProjectsCitraHarmoniSidoarjoCitraGardenSidoarjoLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Sidoarjo, South of Surabaya: 1997: 332.5 ha: 45 ha: Middle income: 1,544 units: -LocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Sidoarjo, South of Surabaya: August 2005: 26 ha: 26 ha: Middle income: 798 units: A joint venture projectPT Ciputra Development Tbk - Business Presentation 23

CTRS ProjectsCitraIndahSidoarjoLocation : Sidoarjo, South of SurabayaLaunch : Mar 2010Development plan : 2 haDeveloped area : 2 haMarket segment : Middle-upUnit sold : 46 unitOthers : A joint venture project.The Taman DayuPandaanLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Pandaan, South of Surabaya: August 2005 (relaunched): 600 ha: 202 ha: Middle income: 674 units: Residential & resort development.A joint operation projectPT Ciputra Development Tbk - Business Presentation 24

CTRS ProjectsCitraGardenLampungCiputra GolfSurabayaLocationLaunchDevelopment planDeveloped areaMarket segmentUnit soldOthers: Bandar Lampung, South of Sumatra: February 2005: 57 ha: 47 ha: Middle to middle-up: 931 units: Our first project developed in SumatraLocated in CitraLand Surabaya, Ciputra Golf and Family Club is a 100 hacomplex, which consists of a 27-hole golf course, club house, restaurant,meeting hall, hotel, fitness and sport center.Ciputra Golf is one of the biggest and most popular golf courses inSurabaya. It often hosts many local and international golf tournaments.Currently, it has 3,137 members.PT Ciputra Development Tbk - Business Presentation 25

CTRS ProjectsCitraSun GardenSemarangNEWLocationLaunchDevelopment planDeveloped areaMarket segmentUnits soldOthers: Semarang, Central Java: January 2011: 17 ha: 5 ha: Middle: 41 units: A joint operation projectPT Ciputra Development Tbk - Business Presentation 26

CTRS ProjectsCitraLandKendariNEWLocationLaunchDevelopment planDeveloped areaMarket segmentUnits soldOthers: Kendari, South East Sulawesi: March 2011: 15 ha: 5 ha: Middle and middle-up: 123 units: A joint operation project. Tobecome a LifeStyle City CenterPT Ciputra Development Tbk - Business Presentation 27

CTRS ProjectsCitraLandDenpasarLocationLaunchDevelopment planMarket segmentOthers: Denpasar, Bali: August 2011: 18 ha: Middle-up: A joint operation project. Tobecome a LifeStyle City CenterPT Ciputra Development Tbk - Business Presentation28

CTRS ProjectsCiputra WorldSurabayaCTRS is undertaking a super block development on an area of7.7 ha located in West Surabaya. The development willcomprise of shopping mall, apartment, office building and hotel,with total building area of more than 300,000 sqm.For the first stage, CTRS will develop the shopping mall and 2towers of apartment. The construction started in July 2007.Up to July 2011, 380 units apartment (96%) have been sold.First Phase InformationTotal investment cost : IDR 1 trillionShopping mallGross/ Net : 89,000 sqm/ 55,000 sqmExp. rental rate : IDR 120,000/ sqm / monthStart operation : 22 July 2011Apartment (2 towers)Total unit : 397 units (60-170 sqm)Selling price : IDR 13 mio/sqmCompletion : 2H 2011PT Ciputra Development Tbk - Business Presentation 29

CTRP ProjectsCiputra Mall & HotelJakartaLocationTotal areaShopping mall• Start operation• Gross/ net area• Occupancy rate/ ARR: Grogol, West Jakarta: 4.1 ha: 1993: 76,000 sqm/ 43,115 sqm: 95%/ USD 22.43(IDR 157,000)Hotel• Start operation• Grade star• Operator• Total room/ unit• Occupancy rate/* ARR: 1993: 4-star: Swiss-Belhotel International: 328: 70%/ IDR 589,000PT Ciputra Development Tbk - Business Presentation 30

CTRP ProjectsCiputra Mall & HotelSemarangSomerset Grand Citra(serviced apartment)JakartaLocationTotal area• Start operation• Operator• Total room/ unit• Occupancy rate/ ARR: Jakarta CBD: 1.1 ha: 1995: The Ascott Group: 203: 81% /USD 81/night or 17/sqm/mthLocationTotal area: Simpang Lima, Semarang: 1.7 haShopping mall• Start operation• Gross/ net area• Occupancy rate/ ARRHotel• Start operation• Grade star• Operator• Total room/ unit• Occupancy rate/ ARR: 1993: 44,200 sqm/ 20,597 sqm: 99%/ USD 21.58 (IDR 151,000): 1995: 5-star: Swiss-Belhotel International: 200: 75%/ IDR 417,000PT Ciputra Development Tbk - Business Presentation 31

CTRP ProjectsDipo Business CenterJakartaNEWLocationTotal areaConstruction: Jl. Letjen Gatot Subroto lot 50-5 Central Jakarta: 0.7 ha: 3Q 2011Office building• Gross area• Exp. Selling price• Start operation: 19,440 sqm: Rp 13 million / sqm: 2Q 2013House/Office (Rukan)•• Net areaExp. Selling price: 5,952 sqm: Rp. 9 – 10 million / sqm• Start Operation : 2Q 2013Up to July 2011, 11 house/office units have been sold.PT Ciputra Development Tbk - Business Presentation32

CTRP ProjectsCiputra World JakartaCTRP plans to develop several super block and mixed-use development inJakarta CBD. The development will take place at Jl. Satrio Lot 3-5, Lot 6 andLot 11. Total development area is around 10 ha.Currently, CTRP is undertaking the construction of Lot 3-5.Lot 3-5 Lot 11Lot 6A super blockdevelopment that willcomprise of worldclass shopping mall,condominium,serviced apartment(managed by TheAscott Group), hoteland premiumresidence (bothmanaged by RafflesSingapore), officeand an art museum.A development that willcomprise ofcondominiums andserviced apartments(managed by FrasersHospitality).Most units in the fiveluxury apartment towerswill be for sale.A mixed-usedevelopment that willcomprise ofcondominium and office.Lot11Lot 6Lot3-5PT Ciputra Development Tbk - Business PresentationJakarta CBD Area33

CTRP ProjectsCiputra World Lot 3-5JakartaTotal areaInvestment costConstructionShopping mall• Gross/ net area• Start operation• TenantCondominium• Gross/ net area• Exp. selling price• Completion: 5.5 ha: IDR 3.1 trillion (USD 332 mio): 2008 - 2012: 122,000 sqm/ 78,000 sqm: 2H 2012: LOTTE: 136 units* (115-170 sqm): 53,000 sqm/ 39,000 sqm**: Start from USD 1,900/ sqm: 1H 2013*Up to July 2011, 93 units (68%) have been sold**including the area of serviced apartmentServiced apartment• Gross/ net area• Exp. ARR• Start operation• Managed byOffice building• Gross area• Exp. ARR• Start operationHotelPremium residence• Exp. selling price• Start operation• Managed by: 170 units: USD 26/ sqm/ month: 1H 2013: Ascott Group: 64,000 sqm: USD 16/ sqm/ month: 2H 2012: 174 rooms: 88 units: Start from USD 3,200/ sqm: 1H 2013: RafflesPT Ciputra Development Tbk - Business Presentation 34

CTRP ProjectsCiputra World 2 (Lot 11)JakartaFutureProjectCiputra Ciputra World World Lot Lot 6 11Jakarta JakartaFutureProjectTotal areaInvestment costConstructionCondominium• Gross/ net area• Exp. selling price• CompletionServiced apartment• Gross/ net area• Exp. ARR• Start operationOffice building• Gross/ net area• Exp. ARR• Start operation: 1.4 ha: IDR 922 bio (USD 100 mio): 2015: 240 units: 32,625 sqm/ 26,100 sqm: Start from IDR 17.6 mio/ sqm: 2H 2017: 240 units: 32,625 sqm/ 26,100 sqm: USD 26/ sqm/ month: 2H 2017: 45,900 sqm/ 39,015 sqm: USD 16/ sqm/ month: 2H 2017CTRP plans to build five luxury apartment towers on an area of3.0 ha, starting the beginning of 2012 There will be two stages inthis development and the development is estimated to be fullycompleted in 2015.Most units in the five towers will be for sale.In the first stage, CTRP will develop two apartment towers, witha total of 350 units for each tower.PT Ciputra Development Tbk - Business Presentation 35

Future ProjectsThe Company also plans to develop new residential projects in all major cities throughout Indonesia.Details of the projects which will be launched in 2011 are as follows:No. Projects CooperationschemeCTRADevelopmentPlan (ha)LaunchingTarget1. CitraLand Tegal Joint Venture 10 3Q 20112. BizPark CE Banjarmasin Joint Operation -Profit Sharing12 3Q 2011CTRS1. CitraGrand Jogjakarta Joint Operation -9 4Q 2011Profit SharingCTRP1. Ciputra World 2 (Lot 11) - 3 4Q 20112. Raffles Residence - 88 unit 4Q 2011PT Ciputra Development Tbk - Business Presentation 36

PT Ciputra Development Tbk - Business Presentation

Profit & Loss HighlightsRevenues BreakdownIn billion IDR1,69320101H 20111,3481,303 1,33261.9%63.4%15.0%16.2%583 5995997359283.4%6.6%13.1%2.2%6.3%12.0%412506482437Residential Condominium Shopping Mall Hotel Others2992722007 2008 2009 2010 1H 2011Revenues Gross Profit Earnings Before Tax(EBT)Gross Profit Margin43% 46% 45% 43% 47%EBT Margin30% 39% 22% 28% 29%PT Ciputra Development Tbk - Business Presentation39

Financial HighlightsIn billion IDRBALANCE SHEET 1H 2011 2010 2009 2008 2007Assets 10,071.2 9,378.3 8,553.9 8,108.4 7,484.1Cash & cash equivalents 2,099.7 2,235.9 2,009.2 2,464.3 2,289.2Land 3,820.2 3,549.1 3,319.0 3,138.4 3,444.2Others 4,151.3 3,593.3 3,225.7 2,505.7 1,750.7Liabilities 2,787.2 2,126.2 1,592.9 1,507.5 1,276.7Debts 420.1 282.1 125.0 175.8 171.7Advances from customers 1,597.4 1,354.5 1,064.4 986.1 704.7Others 769.7 489.6 403.5 345.6 400.3Minority interests 2,339,2 2,347.1 2,313.8 2,603.1 2,419.9Equity – net 4,994.7 4,905.0 4,647.2 3,997.8 3,787.5PROFIT & LOSS 1H 2011 2010 2009 2008 2007Revenues 927.8 1,692.7 1,332.4 1,303.2 1,347.5Net sales 738.0 1,301.4 956.5 932.5 990.3Business revenues 189.8 391.3 375.9 370.7 357.2Gross profit 436.9 734.7 599.3 599.0 583.1Earnings before tax 272.0 482.3 298.7 505.9 412.0Extraordinary gain - - - - -Net profit 130.7 257.9 136.3 202.2 168.0PT Ciputra Development Tbk - Business Presentation40

Land Bank Residential Projects (as at 31 June 2011)(In billion IDR, except for Average Land Selling Price)ProjectDeveloped Land(Salable Land)Undeveloped Land(Raw Land)Sales Information2010AverageLand Selling Price*ha IDR Ha IDR Ha Unit 2009 2010CitraGarden City 22.2 262.5 90.1 238.3 3.3 191 3,247,000 3,931,000CitraRaya Tangerang 158.1 410.9 539.7 286.4 7.7 813 640,000 602,000CitraIndah Jonggol 101.7 138.8 105.6 85.6 11.8 937 500,000 542,000CitraLand Surabaya 202.0 749.1 333.7 345.8 6.3 384 2,099,000 2,318,000CitraHarmoni Sidoarjo 2.7 22.9 68.1 36.0 2.7 210 862,000 920,000CitraGarden Sidoarjo 7.8 42.3 1.6 2.0 2.5 169 1,233,000 1,327,000CitraIndah Sidoarjo - 3.3 - - 0.4 33 - 2,390,000CitraGarden Lampung 19.0 14.1 - - 3.2 161 913,000 982,000CitraLand Pekanbaru - - 18.7 50.6 - - - 1,800,000**Total 513.5 1,644.8 1,136.9 1,054.4 37.9 2,898* For the land which have been sold** Recent PricePT Ciputra Development Tbk - Business Presentation 41

Land Bank Residential Projects (as at 31 June 2011)(In billion IDR, except for Average Land Selling Price)Joint Operation ProjectDevelopment Plan(Ha)Sales Information2010AverageLand Selling Price*Ha Unit 2009 2010The Taman Dayu Pandaan 600 1.9 114 765,000 875,000CitraGarden Banjarmasin 10 - - 1,540,000 1,701,000CitraLand City Samarinda 93 0.9 55 1,656,000 1,846,000Citra BukitIndah Balikpapan 21 1.3 89 1,650,000 1,718,000CitraGrand City Palembang 160 2.4 167 1,256,000 1,323.000CitraLand Celebes Makassar 30 1.9 114 2,215,000 2.631.000CitraLand Banjarmasin 40 2.7 153 - 1,208,000CitraGarden Makassar 15 1.4 121 - 1,062,000Citra Green Dago Bandung 70 0.1 10 - 2,994,000CitraLand NGK Jambi 35 - - - 1,300.000**Citra Sun Garden Semarang 17 - - - 2,418,000**CitraLand Kendari 15 - - - 1,538,000**CitraGarden Pekalongan 10 - - - 1,600,000**Total 1,116 12.6 823* For land which have been sold** Recent PricePT Ciputra Development Tbk - Business Presentation42

PT Ciputra Development Tbk - Business Presentation

Indonesia Macro OutlookECONOMIC INDICATORs 2007 2008 2009 2010Economic growth 6.32% 6.10% 4.50% 6.10%Inflation rate 6.59% 11.06% 2.78% 6.96%BI rate 8.00% 9.25% 6.50% 6.50%Exchange rate (USD/IDR) 9,419 10,950 9,400 8,991International reserves (in bio USD) 56.92 51.64 66.10 96.21Source: BPS & BIIDX INDICATORs 2007 2008 2009 2010IDX composite index 2,746 1,355 2,534 3,703Market cap (in trillion IDR) 1,918 1,030 1,960 3,134Source: Bloomberg Finance L.P.PT Ciputra Development Tbk - Business Presentation 44

Property Market Outlook (Greater Jakarta Only)2H 2010…OfficeCBDSupply (mio sqm) 4.26AOR (%) 87.77Rental rate- Rp 121,043- USD 13.46Service charge- Rp 58,510- USD 6.51RetailJakartaSupply (mio sqm) 3.79AOR (%) 85.85Rental - Rp 563,965Service charge - Rp 80,660Note:AOR: Average Occupancy RateApartmentStrata Title LeaseSupply (unit) 74,594 8,056Sales rate / AOR (%) 98.03 83.85Pricing (Rp mio/sqm)- CBD 15.40 -- Prime Non-CBD 14.13 -- Secondary Non-CBD 8.64 -- Average 12.72 -Rental rate (USD/sqm)- Serviced apartment* CBD - 20.95* Prime Non-CBD - 14.01- Non-serviced apartment* CBD - 12.58* Prime Non-CBD - 11.42Leased apartment composition- Serviced - 60.7- Non-serviced - 39.3Hotel Supply (room) 6,779 8,298 9,639AOR (%) 68.03 65.29 56.55ARR (Rp) 325,038 442,695 742,014Source: Knight FrankPT Ciputra Development Tbk - Business Presentation 45

Share Price (updated Aug 2011)In IDR19/08/2011In shareSource: BloombergPT Ciputra Development Tbk - Business Presentation 46

The ManagementBoard ofCommissioners1 2 3 4 5 6DR. Ir. CiputraChairmanDian Sumeler Bayan Akochi DR. Cosmas BatubaraIndependent memberHenk WangitanIndependent memberDR. Widigdo SukarmanIndependent memberBoard ofDirectorsCandra CiputraPresidentBudiarsa Sastrawinata Rina Ciputra S. Harun Hajadi Junita CiputraCakra Ciputra Tulus Santoso B. Antonius Tanan Veimeirawaty KusnadiUnafiliated memberCorporate SecretaryUnafiliated memberUnafiliated memberPT Ciputra Development Tbk - Business Presentation 47

AwardsWarta Ekonomi Award 2010:The Most Powerful CompanyIn Property & Real EstateIndustryIMAC Award 2010:Best DeveloperProperty&Bank Award 2010:Developer of the Year 2010FinanceAsia Award 2010:2 nd Runner-UpAsia’s Best CompaniesIMAC Award 2009:Best DeveloperIMAC Award 2008:Best DeveloperIMAC Special Award 2008:The Most SustainableCorporate Image2008 - 2009IMAC Award 2007:Best DeveloperPT Ciputra Development Tbk - Business Presentation48

Investor RelationsCorporate SecretaryPT CIPUTRA DEVELOPMENT TBKJl. Prof. DR. Satrio Kav. 6Jakarta 12940 - INDONESIAPhone : +62 21 5225858Fax : +62 21 5205262Email: investor@ciputra.comWebsite : www.ciputradevelopment.comDisclaimer Clause:This presentation may contain forward-looking statements and assumptions that involve risks and uncertainties. Therefore, actual performance, outcomes andresults may differ materially from those expressed in the statements. You are advised and cautioned not to place undue reliance on these statements, which arebased on current view of management on future events.PT Ciputra Development Tbk - Business Presentation49

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