Frank Wong Joins DBS Corporate Office

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Responsible For Resurgence of DBS Treasury & Markets Operation

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Joins Dhanabalan, Olds, Ng, Tai & Paillart In Key Role

SINGAPORE, Oct 2 - DBS Bank said today that its Senior Managing Director and Head of Treasury & Markets, Frank Wong Kwong Shing, has been appointed a member of the Bank's Corporate Office.

Wong joins Chairman S Dhanabalan, CEO John Olds, President Ng Kee Choe, CFO Jackson Tai and SMD Philippe Paillart as members of the DBS' most senior management team. The Corporate Office is responsible for the development and oversight of corporate strategy and policy within DBS.

The appointment reflects DBS' continuing focus on building a strong core management team made up of international bankers to lead DBS' transformation into a world-class regional bank in Asia.

Since joining DBS in March 1999, Wong has directed DBS' Treasury & Markets group beyond Singapore with the goal of becoming a multi-product, regional treasury house. DBS has been focusing on developing risk management products and services for private and corporate clients, having attracted a team of international Treasury experts. The bank has also invested on the deployment of the best-in-class trading infrastructure. Efforts are beginning to show results, as trading volumes and net income showed double-digit growth over the past 12 months.

Before his appointment with DBS Bank, Wong was Designated Chief Executive for National Westminster Bank's Hong Kong branch and its Regional Managing Director for Asia Pacific between 1994-99.

From 1991 - 1994, Wong was Managing Director for Citibank Hong Kong and its North Asia Treasurer. This was a homecoming assignment for Wong, as he started out as a foreign exchange trader in Citibank Hong Kong back in 1966, and spent the next 11 years there.

Wong earlier spent 14 years in JP Morgan, beginning in 1977, and held several senior level posts both in London and Hong Kong. He was Managing Director in Morgan's London Office, where he served as Head of Sales for Europe, and from 1988 - 1989, for Discretionary Fund Management in Europe.

In earlier appointments with Morgan, he managed foreign exchange, interest rate and treasury product marketing.

Born in Hong Kong, Wong is a British citizen and is married with two children.