Moores Rowland Indonesia merges with Mazars

Jakarta, 12 January 2009

The Partners of Moores Rowland Indonesia are delighted to announce that as from 1 January 2009, Moores Rowland Indonesia has merged its practice with the internationally integrated practice of Mazars, one of the world’s leading audit and advisory services firms.

As a result of this merger, Moores Rowland Indonesia will re-brand itself to Mazars Moores Rowland.

Our integration to Mazars will continue to place our firm to provide high quality professional audit and advisory services both at local and at international levels. The work you will be doing with us will be unaffected and we will continue to deliver the personalised partner-led services for which we have always been known.

Mazars is the largest member firm of the Praxity Alliance, of which we are already a member, and we have had good relations with the partners of Mazars for some years.

In joining Mazars, we are following similar developments as other Moores Rowland practices in the region such as Hong Kong, Singapore and Malaysia. Elsewhere in the world, Moores Rowland practices in the Netherlands, South Africa, Egypt and Mexico had also taken this step in recent years.

In this age of rapid globalisation, the merger will provide us with the significant additional strength and available resources of a worldwide firm to serve our clients better.

From 1 January 2009 onwards, we will be accepting consulting mandates for professional work under the Mazars name.

James Kallman will continue as the President Director of the firm and Baudouin Coomans as its director.

There will be no change with regard to the December 31, 2008 audit of financial statements of client companies performed by KAP Jimmy Budhi & Rekan, except that the signing Partner in Charge will no longer be Jimmy Budhi but Tjiendradjaja Yamin, a new audit partner. He will have the full support of Jimmy Budhi who is responsible for a smooth transition but he will no longer assume a role in the decision making process of your audit. Therefore audit issues need to be discussed directly with Tjiendradjaja with a support of Jimmy Budhi when required. James Kallman will continue to play the key relationship role with audit clients. Further changes will be necessary at a later date and this will be the subject of an additional announcement.

We believe that our merger with Mazars will greatly enhance the service we are able to offer you. We will have significant additional specialist expertise available within the global team of Mazars.

About Mazars

Mazars (www.mazars.com) was established in France in 1940 and is today a leader in the auditing and advisory services market in the world. Mazars global portfolio includes over 400 listed companies quoted on different stock exchanges (Europe, Asia, US, South America, the Middle East…).

Today, Mazars is an organisation of 10,500 staff and 568 partners with a current turnover of €767 million operating in 50 countries. In the Asia Pacific region, Mazars has offices in India, China, Hong Kong, Thailand, Vietnam, Malaysia, Singapore, Japan and Australia and has reached 1,800 staff in Asia by the end of 2008.

Mazars is an integrated international firm. Individual partners and shareholders, while remaining owners of their respective practices in each country, are simultaneously full partners of the international firm.

Mazars’ business model distinguishes itself from the other international firms - including some of the big 4 who have recently announced plans to pursue similar models - making it truly an organisation of people across the globe pursuing common goals and a joint vision of progress and sharing risks and rewards.

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