A teleconference seminar with Michael S. Horn of Coudert Brothers, Singapore and P.T. CB Indonesia, Jakarta moderated by Barry Metzger Coudert Brothers, New York and formerly General Counsel of the Asian Development Bank

Thursday, January 27, 2000 11:00 a.m. (Eastern Standard Time)

The 20th century was a period of turmoil and transformation in Asia. Yet few foreign observers were prepared for the collapse of the Suharto and Habibie governments and the transition towards democratic institutions with the election of Abdurrahman Wahid and Megawati Sukarnoputri. As we enter the New Year, what are the prospects for foreign businesses with operations in Indonesia, and what are the opportunities for new foreign investors? What role will the Indonesian Bank Restructuring Agency (IBRA) play, given the Bank Bali scandal and other alleged improprieties involving IBRA? What further progress can be expected with debt restructuring in the corporate sector? What are the implications for other foreign investors of what seemed an employee revolt against foreign management at Bank Bali? What policy, legal and regulatory changes have been made to encourage new foreign investment? What measures can be taken to mitigate some of the risks of the current investment environment? These issues will be addressed in an hour-long teleconference seminar on Thursday, January 27, 2000, which will involve a 30 minute presentation by Michael S. Horn, a partner of the Coudert Brothers international law firm and an experienced advisor to foreign investors in Indonesia. Mr. Horn's presentation will be followed by a 30 minute question and answer session. There is no charge for participation in this teleconference seminar, other than participants' long distance call charges to the AT&T Executive Conference Service in Minneapolis.

Michael S. Horn is a graduate of Tufts University and Harvard Law School and studied at Universitaet Bonn in Germany. He has lived in Jakarta since 1992 and heads Coudert Brothers' Indonesian practice. The Coudert Brothers firm has been active in Indonesia since the mid-1970s, providing legal advice on investment and financing transactions in almost all sectors of the Indonesian economy (including oil and gas, mining, telecommunications, manufacturing, finance, power and other infrastructure sectors). Mr. Horn is a frequent speaker at conferences on issues of Indonesian law, investment and finance and has published widely on such subjects. He is fluent in Bahasa Indonesia.

The Garuda as Phoenix is one of an ongoing series of teleconference seminars on current issues of international trade, investment and finance sponsored by Coudert Brothers. Other recent teleconferences have addressed "Partnering Opportunities with Japanese Internet and Telecommunications Companies", "Recent Developments Affecting Foreign Investment in China" and "Mergers and Acquisitions in Japan". For more information on these programs, please visit Coudert Brothers' website at http://www.coudert.com. We wish to acknowledge the assistance of KWR International in organizing this teleconference seminar. KWR International provides Research, Communications and Consulting Services for the Public and Private Sectors, with a particular focus on Asian and United States markets. For additional information, please contact Mr. Keith Rabin, President, at krabin@kwrintl.com.