DBS Wins Best Bank, Best Debt House And Best Equities House In Euromoney's Awards For Excellence 2002

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Beats all global, regional and local banks in Singapore to win awards

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Euromoney Accolades The Latest In DBS' Haul Of Awards From Leading Regional Publications

SINGAPORE, JULY 17, 2002 - Euromoney, the pre-eminent magazine of the world's capital, equity and money markets, has named DBS the Best Bank, Best Debt House and Best Equities House in Singapore in its Awards for Excellence 2002. This is the third consecutive year in which DBS has been named Best Bank by Euromoney.

In considering DBS for the Best Bank award, Euromoney assessed DBS' capabilities and overall performance in all areas; from Retail Banking, Wholesale Lending, Trade Finance, Treasury, Cash Management to Custody and Payments.

DBS also bagged the Best Debt House award for its 'strong year in debt across the board in Singapore dollars and syndicated loans.' The magazine also said 'In local currency, it was the clear bookrunner of choice. It took an 18.3% market share and raised over US$1 billion. It was the sole arranger on Times Properties' S$782 million loan, which was the largest Singapore dollar deal to come out of the country in 2001.'

According to Euromoney, DBS earned the Best Equities House award for `successfully taking several companies public; the most noteworthy of all was China Aviation Oil Corporation's S$80.6 million IPO.' DBS' purchase of Vickers Securities to position the Bank in anticipation of a pick-up in equity activity was also noted by Euromoney.

DBS' CEO Jackson Tai said DBS was honoured to win these awards. "They represent the market's recognition of DBS' capabilities and leadership, and acknowledge our strong commitment to customers," he said. "Going forward, we will continue our focus on delivering excellent product offerings and world-class service to both corporate and individual customers, locally and regionally."

Euromoney's accolades are the latest addition to DBS' recent haul of awards bagged from other leading regional magazines. Other recent wins in the last two months include:-

• Best Local Investment Bank and Best Local Broker awards from FinanceAsia's 2002 Country Awards



• Best Domestic Commercial Bank, Best Domestic Bond House and Best Domestic Equity House awards from Asiamoney's 2002 Domestic Bank Awards



• and ranked Top in Singapore and 4th in Asia in The Asset's "Asia's Best Credits 2002" Benchmark Survey which interviewed 236 investors from Scotland, London, Boston, New York, Singapore and Hong Kong.

About Euromoney
Euromoney is the pre-eminent global financial publication covering the world's capital, equity and money markets. It is the flagship publication of Euromoney Institutional Investor Plc, one of Europe's largest financial communications companies. The authority and prestige of the magazine are immense. According to an independent research survey, the 2000 Global Capital Markets Survey, corporate, banking and investment specialists regard Euromoney as the best financial magazine in the world. Euromoney's Awards for Excellence is in its 11th year and has over the years set the standards for banking and capital market excellence amongst the top ranking financial institutions around the world.

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.