DBS Responds To Westpac Statement

SINGAPORE, SEP. 28 - Responding to a report published today in the Australian Financial Review and a subsequent response by Westpac Banking Corp. to the Australian Stock Exchange (ASX), DBS Group said today it had held informal discussions with several Australian banks in recent months.

The Singapore-based banking group also confirmed that exploratory discussions were held earlier this month with Westpac.

All of the talks were inconclusive.

DBS said it would continue its policy of actively exploring opportunities for expansion in Asia-Pacific to complement acquisitions in recent years in Hong Kong, Thailand, Indonesia and The Philippines.