Jakarta, July 3, 2008 � PT Antam Tbk (ASX - ATM; IDX - ANTM) is pleased to announce that it has signed a memorandum of understanding (MOU) with Oxiana Limited (ASX: OXR). The basis of the MOU with Oxiana is to cooperate in examining opportunities and form joint ventures or other cooperative ventures for the exploration, development and operation of precious or base metal or bulk commodity projects within Indonesia. The first transaction under the MOU to be considered is for Antam to acquire an interest in Oxiana�s Martabe gold and silver project in the Indonesian province of North Sumatra. The Martabe gold project is owned by PT Agincourt Resources, in which Oxiana holds a majority interest.