DBS Asset Management Offers Investors Upside

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UP Is The First & Only Unit Trust To Offer Guarantees On Returns* Plus UPside Potential

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INNOVATIVE PRODUCT ACTS LIKE A FIXED DEPOSIT BUT PROVIDES AN ADDED BONUS

SINGAPORE, NOVEMBER 15, 2000 - DBS Asset Management (DBSAM) today launched UP, Singapore's first and only unit trust which also offers guaranteed returns* plus the potential of upside.

"As a leading financial solutions provider, we are about to create a stir in the market with yet another first. No other product offers a guarantee on returns*, plus potential upside," said Mr Patrick Tan, Managing Director of DBSAM.

Currently, in Singapore, approximately S$180 billion are placed on deposit and only S$7 billion are invested in unit trusts. DBSAM sees the potential of this segment of the market and believes that UP provides a growth opportunity for fixed deposit and savings account customers as well as pre-retirees to advance into unit trust investments. Additionally, DBSAM said that all investors should consider a capital preservation component in their portfolio and UP is an ideal option.

"UP works like a growth deposit. In a sense, it is like a growth deposit. UP is a low-risk investment product and is a natural progression for savers looking to - 'UP'-grade their deposits," he added.

"UP is ideal for those seeking better returns than the typical low interest rates promised by fixed deposits. With global growth slowing and stock market volatility rising, UP is also an ideal investment vehicle for investors seeking a shelter which offers attractive returns," said Mr Tan.

UP offers minimum guaranteed returns of 2.5%, 3.0% and 3.5%* for tenure periods of 2.5, 3.5 and 5 years respectively. UP is also the only guaranteed fund to offer three maturity period options to suit the varied investments needs of the investors.

Commenting on the appeal of UP, Mr Tan said, "Investors can enjoy up to 4-6% returns per annum or more with secure minimum guaranteed returns of 2.5-3.5%* on their investment. We believe that this can be achieved through a careful balance of experience, focus and knowledge. We are confident that investors will see the value of saving through UP."

"Investing in UP is as simple as opening a fixed deposit account. Investors can apply for UP at all the 900 DBS/POSB ATMs, through DBS branches or at DBS Securities," said Mr Tan.

UP is available in lots of 1,000 units with a minimum investment of S$5,000 at the offer price of S$1.00 per unit (including sales charge). Investors will enjoy 0.25% discount for amounts less than S$100,000 and 0.5% discount for amounts equal or above S$100,000 in the form of bonus units. In addition, investors in UP may also apply for an overdraft of up to 85% of the value of their investment at an attractive rate of Prime + 1%.

To achieve its targeted returns, UP will invest in a mix of mainly bonds with a modest exposure to equities. UP, guaranteed by DBS Bank, will be managed by the DBSAM team comprising seasoned investment professionals with strong performance track records.

UP was launched from the top of Asia's tallest hotel, The Westin Stamford, Singapore on November 15, 2000.

The launch period for UP is from November 16 to December 7, 2000. Please refer to attached information sheet for further details on UP.

*Guarantee on principal and returns are applicable only if the units are held to maturity.

About DBS Asset Management (DBSAM)
DBSAM is one of the largest and most experienced investment management organizations in Singapore. It manages close to S$4 billion in assets for institutional and retail clients. DBSAM has almost 20 years experience in investment management as a company. More than half of its investment team have over 10 years of experience each.