Press Releases

• First nine months 2010 EBITDA increased by 56% to US$424 million
• Net profit grew by 89% to US$254 million year-on-year

Singapore, 11 November 2010 – Golden Agri-Resources Ltd and its subsidiaries (“GAR” or the “Company”) recorded an outstanding growth for the first nine months 2010 (“9M 2010”) with a 40% year-on-year increase in revenue to US$2.3 billion. EBITDA for the period increased by 56% to US$424 million compared to US$272 million achieved for the same period last year.

FINANCIAL HIGHLIGHTS

The strong growth was supported by a 28% increase in average CPO market price (FOB) from US$615 per tonne during 9M 2009 to US$790 per tonne during 9M 2010. This contributed to the increase in 9M 2010 net profit to US$254 million from US$134 million in the same period last year, despite weaker production performance in 2010. 3Q 2010 EBITDA and net profit also showed year-on-year growth of 32% and 41%, respectively, supported by a 31% increase in CPO market price (FOB).

As at 30 September 2010, GAR’s financial position remained strong with conservative gearing and sufficient cash balance. Compared to the end of 2009,

About Golden Agri-Resources Ltd (“GAR”)
Headquartered in Singapore, GAR is the world’s second largest palm oil plantation company with a total planted area of 435,000 hectares (including smallholders) as at 30 September 2010, located in Indonesia. It has integrated operations focused on the production of palm-based edible oil and fat.

Founded in 1996, GAR is listed on the Singapore Exchange since 1999 with a market capitalisation of US$5.25 billion as at 30 September 2010. Flambo International Ltd, an investment company, is GAR’s largest shareholder, with a 49% stake. GAR has several subsidiaries, including PT SMART Tbk which is listed on the Indonesia Stock Exchange since 1992.

GAR is focused on sustainable palm oil production. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil (“CPO”) and palm kernel; and refining CPO into valueadded products such as cooking oil, margarine and shortening.

It also has integrated operations in China including a deep-sea port, oilseeds crushing plants, production capabilities for refined edible oil products as well as other food products
such as noodles.

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Pelham Bell Pottinger Asia
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Nazreen Nessa
Ang Shih-Huei
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Mobile no. : +65 8322 6409 / +65 9189 1039

¹ Earnings before tax, minority interests, interest on borrowings, depreciation and amortisation, net gain from changes in fair value of biological assets, foreign exchange gain (loss), exceptional items and share of results associated companies.