DBS Responds to UOB Bid For OUB

SINGAPORE, JUNE 29 - DBS Group Holdings Ltd ("DBS") said it is carefully studying the bid announced today by United Overseas Bank Ltd (UOB) for Overseas Union Bank Ltd (OUB) and will respond in due course.

DBS will continue to approach domestic consolidation in a disciplined and thoughtful manner and in a way that will be beneficial to DBS and OUB stakeholders.

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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 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, 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, reflected or reproduced in this Press Release.