NOTED U.S. ECONOMIST APPOINTED TO DBSH BOARD OF DIRECTORS

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Gail D. Fosler Is First Woman To Join DBSH Board

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CURRENTLY SENIOR VICE PRESIDENT AND CHIEF ECONOMIST FOR THE CONFERENCE BOARD

SINGAPORE, OCT. 29 -- DBS Group Holdings Ltd. said today that Gail D. Fosler has been appointed to a three-year term on the company's board of directors.

Ms. Fosler is currently Senior Vice President and Chief Economist for The Conference Board, one of the world's most influential business organisations.

Commenting on her appointment, S. Dhanabalan, Chairman of the Board of DBS Group Holdings said, "We are unusually fortunate to have an economist of Gail Fosler's stature serving on the DBSH Board.

"As an individual and as a professional, she is in high demand in government and business circles around the world. Any organisation would benefit from Gail's participation in their deliberations and decision-making, and we intend to take full advantage of her knowledge, experience and insight on behalf of DBSH," Dhanabalan said.

At The Conference Board, Fosler directs its Economics Research Program, leading the development of major studies on economic policy issues and overseeing the widely reported Conference Board indexes including Leading Economic Indicators, the Consumer Confidence Index, and the Business Confidence Index.

She joined The Conference Board in 1989, after serving as Chief Economist and Deputy Staff Director of the US Senate Budget Committee. Earlier, she served as an economist with Manufacturers Hanover Bank, now part of Chase Manhattan Bank.

Fosler holds an MA in economics from the University of Southern California and an MBA in Finance from New York University. She serves as a director of Unisys Corp., H.B. Fuller Company, the National Bureau of Economic Research and the National Association of Business Economists, and is a Trustee of John Hancock Mutual Funds.

Fosler and her husband R. Scott Fosler make their home in Chevy Chase, Maryland near Washington D.C. They have one son, Michael.

The Conference Board, founded in 1916, is headquartered in New York. A not-for-profit, non-advocacy organisation, The Conference Board is the world's leading research and business membership group. Its membership includes more than 3,000 companies and other organisations in 67 nations. It produces the Consumer Confidence Index, the Leading Economic Indicators and a wide range of other economic reports that have an impact on both business and financial markets. The Conference Board has offices in major cities around the world, including Singapore and Hong Kong.