DBS Attracts Another World Class Banker

* * *

Singaporean With International Experience Will Develop DBS' Asian Model For Consumer Banking

SINGAPORE, SEPT 14 - DBS Bank today appointed T. K. Chan as Managing Director - Personal Banking Group, in charge of developing DBS Asian franchise.

In this newly created position, Chan will lead the development of business strategy, planning and implementation of new initiatives for the Personal Banking Group in Asia. Chan will report directly to Philippe Paillart, Senior Managing Director. The Personal Banking Group comprises DBS' Individual Banking, Priority Banking, Credit Cards, Enterprise Banking, Private Banking, Asset Management, Securities and Insurance operations.

"We are delighted to have T.K. on board", said Paillart. "His vast experience in every aspect of consumer banking, not only in Singapore but for the Asia Pacific region, makes him an extremely valuable member of our team."

"I started to work with T.K. at StanChart in 1993. Together we created a high growth and successful consumer franchise. T.K. developed the ASEAN countries while I was focusing on North East Asia."

"T.K. was instrumental in developing modern distribution channels (including superb branches), creating a new range of investment and insurance services, refining new sales techniques, and managing Priority Banking for on-shore and off-shore customers as well as Business Financial Services. His more recent contribution was in leading various e-commerce initiatives."

"He will be a key member of our DBS team, helping us to continue developing the 21st century Asian model for Consumer Banking that will be unique to DBS", added Paillart.

Prior to joining Standard Chartered, Chan worked in the Bank of Singapore (Australia) Ltd as Head of Retail Banking. From 1972 to 1987, Chan was with Chase Manhatten Bank, Hong Kong, and Singapore, where he held management positions in Commercial Lending, Institutional Banking, Financial Control, and Consumer Banking.

A Singaporean, Chan holds a Bachelor Degree in Accounting & Economics (Honours) from the University of Hong Kong. He is also an Associate of the Chartered Institute of Bankers, London.

---------------------------------------------

For more information, please contact:
Ms Jenny Lee
Vice President
Corporate Relations
Tel: +65 6429 8849
Fax: +65 6222 4478