DBS Further Enhances Offerings To High-Networth Customers With Launch Of New Priority Banking Brand

* * *

New Branding In Line With DBS' Initiatives To Further Strengthen Its Consumer Banking Franchise

SINGAPORE, JULY 16, 2002 - DBS today unveiled its new priority banking brand aimed at high-networth customers. The move further solidifies DBS' position in this much sought after customer segment.

Named DBS Treasures, the new brand will be DBS' marque for its priority banking services in the region. Singapore is the first country to roll out the new brand, and details for the Hong Kong implementation are expected by the end of the year.

Speaking at the opening of its Treasures priority banking centre at the DBS China Square branch, Edmund Koh, managing director of DBS consumer banking division, said the rebranding was undertaken as part of DBS' initiatives to further enhance its consumer banking franchise.

"Over the last 15 months, DBS has taken bold steps to re-invent and re-vitalise our consumer banking franchise, starting first with POSB then DBS. Numerous initiatives are evident, including branch improvements, loyalty rewards programmes and innovative investment offerings. Even our marketing materials have undergone dramatic changes that signify a confident and customer-centric organisation we have today," Koh said.

"DBS Treasures is the latest phase of our rebranding initiatives as we gear up to provide our high-value customers with a distinctive priority banking offering. Most importantly, the branding goes beyond cosmetic.

"DBS has put in place the infrastructure and re-engineered systems as well as made considerable investments in our staff training and service quality," Koh added.

"DBS is uniquely positioned in that we effectively cater to all customer segments in Singapore, and we have spent a considerable amount of resources in differentiating and defining our customer segments in order to better cater to their needs. DBS already has the largest market share in terms of priority banking customers in Singapore. Given DBS' extensive retail network, we will continue to leverage on our huge customer base to cultivate relationships with our customers," Koh said.

"At the heart of it, the rebranding efforts underscores our commitment to deliver a superior and differentiated service to one of our most important customer segments at DBS, and be served by a highly professional team.

"Our priority banking customers are uniquely connected to the depth and breath of expertise within DBS, the only bank with a major presence in the two main, well-regulated banking markets in Asia - Singapore and Hong Kong. We excel in our knowledge of the Asian markets. This expertise includes an award-winning Treasury and Markets operation, as well as access to the knowledge and abilities of our world-class partners, whose reach extends to the major financial markets of the US and Europe. To help customers grow their wealth, DBS will continually push the envelope to make available a comprehensive range of financial solutions to meet and anticipate customers' needs, including customised treasury products and specially packaged structured vehicles," Koh added.

To ensure that the new brand delivers what customers want, DBS conducted research and focus group sessions with customers in four key Asian countries to form the basis of its brand proposition. Priority customers surveyed in Singapore, Hong Kong, Thailand and Indonesia returned with four consistent elements they wanted from their bank : service, professionalism, knowledge and competitive rates.

"Taking on board customers' feedback, we set out to define a new priority banking brand that will take us into the region. DBS Treasures is about recognising the customer's priority status in everything we do. It is about being industrious and diligent in attending to their interests, and it is about trust and accessibility," Koh explained.

DBS' investments in the new brand can be seen in its immaculate priority banking centres. Besides the centre in China Square, a similar centre has also been opened at Raffles City, with a third coming up in the Orchard Road area by year-end.

DBS priority banking customers will also have access to all DBS branches for their transactional banking needs, in addition to 12 dedicated Treasures counter services at strategic DBS branches such as Holland Village, Bukit Timah, Raffles Place and Suntec City.

About DBS
DBS Bank is the leading bank in Singapore, with dominant positions in consumer banking, treasury and markets, securities brokerage, Singapore dollar loans, deposits, and equity and debt fund raising. Through its Dao Heng Bank and DBS Kwong On Bank operations, DBS Bank is the fourth largest banking group in Hong Kong. Beyond the anchor markets of Singapore and Hong Kong, DBS Bank serves corporate, institutional and retail customers through its operations in Thailand, The Philippines, and Indonesia. The Bank's credit ratings are amongst the highest in the Asia-Pacific region. More information about DBS Group Holdings and DBS Bank can be obtained from www.dbs.com/dbsgroup.