IFS Solutions Indonesia Announces New Composition of Board of Directors

Jakarta, September 3, 2008

IFS Solutions Indonesia has announced amendments to the composition of the Company’s Board of Director (BoD) at an Extraordinary General Meeting of Shareholders held in Menara Anugrah, Mega Kuningan Jakarta, August 25, 2008.

Elan Syuherlan, previously Consulting and Support Director for IFS Solutions Indonesia has been appointed President Director replacing Uun Widhi Untoro. The company also approved the resignation of Uun Widhi Untoro.

Elan Syuherlan acquires wide-ranging experience in the area of information technology. He has spent the majority of his career and undertaken various roles in the industry. He graduated from Indonesia University with a degree in electro engineering.

Sutan Simandjuntak, IFS Solutions Indonesia’s Commissioner stated "We strongly believe that Mr. Elan Syuherlan will continue to provide guidance on best practices to enhance our competitiveness, bring strategic directions for growth for the company as an innovative and most reliable. solution provider in the industry delivering highest customer satisfaction. He has presented significant contribution in meeting our business objectives, achieving continuous growth, executing and controlling company’s business process since he joined the Board of Directors in 2003".

Jan C. Brunaes, President of IFS Solutions Asia Pacific PTE LTD added "We are delighted to see Mr. Elan Syuherlan take the helm at IFS Solutions Indonesia. Elan has a long and proven track record with IFS, and we look forward to work with him and the new Board of Directors in making IFS the winning solution in Indonesia."

Board of Directors

President Director : Elan Syuherlan
Consulting & Support Director : Thomas Dwi Susmantoro
Marketing & Business Development Director : Handi Sapta Mukti
Finance & Administration Director : Hedi Yanto

Board of Commissioners

President Commissioner : Syamsul Mu’arif
Commissioner : Raden Hartono
Commissioner : Sutan Simandjuntak

"The formation of a Board of Director is consistent with the company’s commitment to achieving the highest standards of corporate governance and delivering stakeholder value" said Elan Syuherlan.

ABOUT IFS SOLUTIONS INDONESIA, PT IFS in Indonesia was officially established in 1997, after the acquisition of PT Versa Torron Sistekindo by IFS AB. In the beginning of April 2003, IFS underwent a successful organizational and financial restructuring, and currently operates under IFS Solutions Indonesia, PT. The company is responsible for the sales, implementation and support of IFS business applications in Indonesia, as well as globally where its consulting services are required.

IFS Solutions Indonesia has made significant· major contributions to the success of IFS in the Asia Pacific Region. We have been appointed as one of IFS Global R&D in the period of 1998-2001, where we helped to deliver IFS Applications to 21 Countries around the world, including Austria, Brazil, China, Denmark, France, Germany, Hong Kong, Japan, Korea, Malaysia, Netherlands, Norway, Saudi Arabia, Singapore, Srilanka, Sweden, Taiwan, Thailand, United Arab Emirates, United Kingdom, and United States.

IFS Solutions Indonesia strong holds:

• Deep knowledge in IFS Technology
• Deep knowledge in IFS Products
• Deep knowledge in the industry specific solutions

For further information, contact:

PT. IFS Solutions Indonesia
Marketing & Communication
E-mail: marketing@ifs.co.id