<p>Jakarta, October 18, 2011. PT Agung Podomoro Land Tbk (&ldquo;APLN&rdquo; or &ldquo;the Company&rdquo;) &ndash; (Ticker IDX: APLN) &ndash; 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&rsquo;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 &ndash; use development which could have commercial office and residential components.</p>