DBS BANK APPOINTS NEW MARKETING HEAD

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EXPERIENCED AUSTRALIAN TO OVERSEE MARKETING FOR DBS RETAIL BANKING

SINGAPORE, Nov. 2, 1999 - DBS Bank today announced the appointment of Laurel Jackson as Managing Director, Individual Banking (IB)-Group Marketing.

IB is the retail banking arm of DBS Bank.

In the newly-created post, she will direct Individual Banking's marketing strategy and planning including competitor analysis, customer quality standards and implementation of product and brand strategy.

" With Laurel coming on board, we are moving to better meet our customers' needs and create distinctive products and services for them," said Tan Soo Nan, Senior Managing Director, Banking. "The experience she brings to DBS Bank will be invaluable as we improve and build on our already strong product and service base."

Ms. Jackson brings to DBS more than 15 years of marketing experience in service-based industries. She moves to DBS from St. George Bank Limited in Australia, where she was Chief Manager of Marketing. There she moved market perception of St. George Bank from a predominantly mortgage business concern to a broad-based financial services provider, and developed the marketing plan for the newly integrated St. George Retail Bank. Her responsibilities also included market research, merchandising, direct marketing, brand management, sponsorship and internal staff communication.

Jackson holds an MBA from the Australian Graduate School of Management and a Bachelor of Arts degree from University of New South Wales.