DBS Group Holdings Makes Arrangements To Promote Trading Liquidity Of The Preference Shares

* * *

Arrangement intended to help retail investors who trade the preference shares in small lots on the SGX-ST

SINGAPORE, MAY 30 - DBS Group Holdings Ltd ("DBSH") today announced that it has made arrangements to promote, on a best efforts basis, the trading liquidity of the S$1,100,000,000 6 percent Non-Cumulative Preference Shares (the "Preference Shares") issued by The Development Bank of Singapore Ltd ("DBS Bank"). The Preference Shares were listed on the Singapore Exchange Securities Trading Limited (the "SGX-ST") on May 28, 2001.

Under the arrangements, DBSH through DBS Securities Singapore Pte Ltd will use its best efforts to enter into buy and sell transactions in respect of the Preference Shares on the SGX-ST, subject to certain trading and exposure limits.

Such arrangements are primarily intended for retail investors who trade the Preference Shares in small lots on the SGX-ST.

The arrangements will be made available shortly and may be discontinued at any time by DBSH at its discretion.

No assurance is given as to the effect of such arrangements on the trading liquidity of the Preference Shares on the SGX-ST. No representation is made that DBSH (through DBS Securities Singapore Pte Ltd) will enter into buy and sell transactions in respect of the Preference Shares pursuant to such arrangements, or that such arrangements will not be discontinued at any time.