DBS Makes Clean Sweep Of Asiamoney's Domestic Bank Awards 2002

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Bank wins 'Best Domestic Commercial Bank', 'Best Domestic Bond House' and 'Best Domestic Equity House' Awards

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Awards A Testimony Of DBS' Capabilities And Leadership

SINGAPORE, MAY 28, 2002 - Asiamoney, a prominent financial magazine in Asia, has given DBS Bank a clean sweep of its Domestic Bank Awards 2002 for Singapore - Best Domestic Commercial Bank, Best Domestic Bond House and Best Domestic Equity House.

According to Asiamoney, DBS won the Best Domestic Commercial Bank award for being 'a strong player across the board standing out in terms of its sheer size, capabilities and widely diversified franchise.' It leads Singapore's domestic banks in terms of customer base (over 4 million customers) and ranks number one for deposits and savings deposits.

DBS also won the Best Domestic Bond House award for 'its dominance in Singapore's dollar bond market in 2001, enjoying top spot as bookrunner in terms of volume, and bringing to the market a number of groundbreaking deals.' Deals noted included SingTel's inaugural five-year, S$1 billion bond issue and Land Transport Authority's S$500 million debt issue 'which achieved a first in extending Singapore's yield curve all the way to 15 years.'

In the domestic equity house category, the league tables tell the story with 'DBS comfortably taking top place by raising S$162 million and capturing 33.41% market share last financial year.' Among the significant deals which helped DBS clinch the Best Domestic Equity House award was the S$80.6 million IPO by China Aviation Oil Corporation (Singapore) Ltd, the largest IPO in 2001. DBS was also the joint lead manager of a share placement by its own DBS Group Holdings, which at S$2.2 billion was the largest placement in 2001.

Mr Philippe Paillart, CEO of DBS commented: "Winning these awards represent an acknowledgement of DBS' capabilities and leadership. They are also a testimony of our ability to meet customers' needs and expectations. We are honoured to win these awards, and will continue to be guided by our valued customers in delivering excellent product and service offerings across the region."