DBS on Investor Roadshow

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DBS CEO reiterates Synergistic Opportunities

and Value Creation

NEW YORK, JUNE 28 Philippe Paillart, CEO of DBS, is currently in the US meeting with investors to discuss the bank's offer for OUB. At a meeting with 12 key fund managers yesterday, he said that he "warmly welcomes OUB" to be part of the enlarged group with a vision of building the best bank in Asia.

He explained to US fund managers that OUB is a successful bank with a good franchise. "I have great respect for Peter Seah and his management team for steering OUB to what it is today." Last year, Peter Seah, OUB's CEO was voted Outstanding Chief Executive for his exemplary leadership. "We value the bank, its management and employees," said Mr Paillart. These statements reiterate his views when he met with media last Friday at a media conference to announce the offer.

According to Mr Paillart, investors' reactions have been very positive in the US, where the consolidation of the banking sector has been occurring over the past few years. He said that US investors acknowledge the merits of the merger, and it makes economic sense for OUB, DBS and Singapore.

"Should the offer be accepted, we will have a combined pool of talent and resources. We have every intention to work jointly and closely with them to manage the integration process," added Mr Paillart. "OUB shareholders will not be the only winners in this transaction. The combined employees will become part of a major regional franchise spanning Hong Kong, China, Thailand, Malaysia, Philippines and of course, Singapore. Customers will also benefit from the synergies of the two successful banks."

He pointed out that DBS has strengths in investment banking as well as a solid consumer banking franchise. OUB will complement DBS' strengths with its strong SME niche and personalised consumer banking offerings. Mr Paillart and his team will visit fund managers in Europe following his US tour.

The Directors of DBS (including any who may have delegated detailed supervision of this press release) have taken all reasonable care to ensure that the facts stated and opinions expressed in relation to the DBS and the Offer in this press release are fair and accurate and that no material facts have been omitted from this press release, and they jointly and severally accept responsibility accordingly. Where any information has been extracted from published or publicly available sources (including without limitation, information in relation to OUB), the sole responsibility of the Directors of DBS has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, accurately reflected or reproduced in this press release.