Jakarta, October 18, 2011. PT Agung Podomoro Land Tbk (“APLN” or “the Company”) – (Ticker IDX: APLN) – today announced that the Company has made share purchase agreement to acquire 99.93% stake in PT Tiara Metropolitan Indah (PT TMI) which has one hectare of land adjacent to APLN’s undeveloped land bank within the Podomoro City complex. This acquisition which cost around IDR 150 billion, will enable APLN to develop a total area of 2.3 hectares into a mixed – use development which could have commercial office and residential components.
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