DBS Bank Sells Out $25 Million Issue Of Asset-Back Notes In Two Days

* * *

Moneyplus oversubscribed three days ahead of closing date

SINGAPORE, July 31 - DBS Bank said today that the current retail tranche of Moneyplus sold out 3 days ahead of the scheduled closing.

This $25 million issue of Moneyplus, the third Public tranche, offered a three-month interest rate of 2.825% p.a. and is competitive with most fixed deposit rates currently on the market. Moneyplus opened at DBS/POSBank ATMs on Wednesday, June 26, and was sold out two days later on Friday, June 28. The ATM tranche was scheduled to close today.

"I am delighted with the increased enthusiasm with which the public have greeted successive issues of Moneyplus. We see this as an indication of the public demand for higher yielding alternatives to fixed deposits which offers the desired features of both convenience and safety. We expect to launch another series soon to meet the demand of those investors who were not able to buy Moneyplus this time around." says Stephen Finch, DBS Bank's Managing Director of Debt Capital Markets.

Moneyplus is backed by high quality financial obligations (loans and bonds) of statutory-boards, government-linked companies, and foreign corporations rated "A" or better. These loans and bonds will be used as collateral for the Short-Term Notes.

The Notes underlying this very high quality security have been rated "A-1" by leading rating agency, Standard & Poor's, and is listed on the Singapore Exchange.

Moneyplus is available to all DBS/POSBank customers with CDP Securities accounts on a first-come-first serve basis. Applications can be made at our 900 DBS and POSBank ATMs island-wide. Applications for Moneyplus can also be made by way of printed application forms on a private placement basis. Customers can call 533 9688 (between 8.30 a.m. - 6.00 p.m., Monday to Friday) for more information.

Details of the Note Issue are found in the Information Memorandum, which are available at all DBS and POSBank branches. The interest rate will be reported daily in the "Bonds & Warrants" section in the newspapers under Singa Secured Assets Limited. Singa Secured Assets Limited is a special purpose company set up with the sole purpose to issue such Notes and to purchase the loans and bonds used as collateral for such Notes. Moneyplus are Notes of Singa Secured Assets Limited, and will be referred to as such in all statements and correspondence.