Commencing from July 23 2008, PT Energy CNG has become a PMA (Direct Foreign Investment) company. As Foreign Investment Body approves Mr. Sulaiman Ahmed Said Al-Hoqani from the United Arab Emirates to acquire part of PT Energy CNG shares.

Mr. Al-Hoqani is the Chairman of the Global Financial Investment Holding S.A.O.G. of the Sultanate of Oman. The Global Financial Investment Holding S.A.O.G. controls Mr. Al-Hoqani businesses in Oman, UAE, Bahrain, Egypt, Pakistan, RUmania, Malaysia, Thailand etc.

We believe this acquisition will accelerate the development of PT Energy CNG's gas business in Indonesia - particularly its compressed natural gas distribution system. Currently we are developing 4 mother stations, two in the West Java and the other two in the East Java. Those mother stations will commence on operation in 1st quarter 2009. PT Energy CNG is also planning to develop 2 mother station in South Sumatera to serve potential customers in the region.