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BALI NEWS - March 17, 2005

Managing Corporate Governance in Asia
The Effects of Corruption in Asia to be discussed by corporate decision makers at Bali Conference on April 7 and 8, 2005

200 CEO's and senior executives from corporations and governments around Asia will gather in Bali this April to discuss the positive business results that can be obtained when a company embraces anticorruption strategies and find ways how Government, Corporations, Media and the Judiciary can cooperate in the fight against corruption.

On April 7-8, the third annual Managing Corporate Governance in Asia Conference will be held in Bali with the theme "Corruption in Asia - Its effect on Business and Nations". Business and political leaders, as well as high-ranking experts from international organizations and NGO's from all over the world will provide their viewpoints and expertise of the negative effects of corruption and how to minimize its occurrence.

Mr. George Tahija, President/Director of PT. Austindo Nusantara Jaya will co-chair the MCGA with Mr. Jose L. Cuisia, Jr., President and CEO of Philippine American Life and General Insurance Company. The Conference is organized by the C.V. Starr Chair in Corporate Governance in Asia which is endowed by AIG, the Asian Institute of Management - Ramon V. del Rosario, Sr. (AIM-RVR) Center for Corporate Responsibility and the AIM-Hills Governance Center.

"It is time for companies to have a better understanding of how corruption negatively impacts the growth and development of national economies. Corporate decision makers in Asia need to learn to succeed in business without engaging in corrupt practices." said Tahija.

An impressive list of organizations are cooperating to make the conference successful: Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI); The Asia Foundation (TAF); Association of Development Financing Institutions in Asia and the Pacific (ADFIAP); International Finance Corporation (IFC); United Nations Development Program - Indonesia (UNDP); Indonesia Business Links (IBL); Forum for Corporate Governance in Indonesia (FCGI); Ikatan Alumni AIM Indonesia (IAAIMI); Academy of Corporate Governance (ACG); Center for International Private Enterprise (CIPE); Center for Good Corporate Governance (CGCG) Korea; Makati Business Club (MBC) Philippines; and All India Management Association (AIMA)

Sponsored in Indonesia by Bank Niaga and the United Nations Development Programme, the Conference aims to highlight how the improvement of corporate governance in Asia can help in reducing corruption in both the private and public sectors, thereby contributing to robust economic development. Other sponsors include Pearl Oil (Jambi) Ltd., Garuda Indonesia, PT Freeport Indonesia, AIG Lippo, Shell, Figaro Coffee Company, Hills Governance Center, Daya Dimensi Indonesia and PricewaterhousCoopers. The official media partners include the International Herald Tribune, Business Monitor International, Corporate Governance Asia, SWA Sembada, Finance India, KWR International, Philippine Graphic, Asiamoney, Asialaw and the China Law and Practice.

The President of Indonesia, H.E. Susilo Bambang Yudhoyono, H. E. Prime Minister Abdullah Bin Ahmad Badawi, the Prime Minister of Malaysia and General Fidel Ramos, former President of the Philippines have been invited to grace the occasion and deliver the Opening Keynote addresses.

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First there was the horror itself, which on 12 October 2002 exploded over what many people thought was the least likely place on earth for anything horrible to occur.

Bali—the Island of Gods—was supposed to be a place somehow removed from the harsh realities of the rest of the world.

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