DBS BANK APPOINTS NEW INTERNATIONAL RETAIL BANKING SALES HEAD

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Has extensive experience in all facets of sales, service and marketing management

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WILL CREATE A "DBS BRANDED CUSTOMER EXPERIENCE"

SINGAPORE, Dec. 9, 1999 - DBS Bank today announced the appointment of Meredith Peabody as Managing Director, Individual Banking (IB)-International.

IB is the retail-banking arm of DBS bank.

Ms. Peabody will be responsible for building an integrated sales and service culture in Individual Banking. By adopting a customer-focussed approach and determining a needs-based sales infrastructure, Peabody will create a DBS Branded Customer Experience, where customer experience will be consistent, intentional, differentiated and valuable. She will also work with country managers in overseas branches to develop a consistent DBS image across the region that includes products, processes, sales and service.

Ms. Peabody brings to DBS more than 22 years of sales, service and marketing experience for both the consumer products and financial services sectors.

She began her career in banking with the Arizona Bank first and then Security Pacific in Phoenix, Arizona, where she implemented sales projects including a Personal Banker Program, a Direct Sales initiative, Telephone Banking and Group Banking.

In 1992, Peabody joined Bank of America (BOA) as Senior Vice President and District Manager.

In that role she was responsible for managing 31 retail branches in metropolitan Phoenix. During her tenure, the district consistently ranked among the top four in the National District Rankings for loan and deposit growth. She was most recently in the Asia Retail Banking Division of BOA, Hong Kong where she successfully increased both sales productivity and sales volume across the five International Retail Subsidiaries of Hong Kong, Singapore, India, Taiwan and the Philippines.

Peabody holds a Masters (International Business Management) from the American Graduate School of International Management and a Bachelor of Arts/Education from Muskingham College, New Concord, Ohio.