POSB MasterCard A Big Hit With Customers

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More Than 150,000 Cards Issued Within One Year Of Launch

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POSB MasterCard Says 'Thanks' With Gifts For Customers To Celebrate First Anniversary

SINGAPORE, AUG. 7 - DBS Bank today announced that its POSB MasterCard has attracted more than 150,000 customers since its launch on Singapore's National Day one year ago.

"We are thrilled by the wonderful response to the POSB MasterCard," said Andy Chan, Managing Director, Card Services Singapore, DBS Bank. "The card has obviously struck a positive chord among our customers. The strong demand is testament of the relevance and convenience that the POSB MasterCard brings to our customers."

DBS said it believes the success of the POSB MasterCard is due to three key factors : customers' affinity with the POSB brand; the bundle of privileges for the card; and, economical fees. POSB MasterCard customers currently enjoy a fee waiver for three years when they sign up for the card. DBS has also made it easy for customers to qualify for fee waivers in subsequent years by introducing a transaction-based waiver scheme. To qualify, a customer only needs to use the card 18 times over 12 months, which translates to less than twice per month.

In addition, cardholders also benefit from the "Enjoy POSB Simple Pleasures" program. The "Enjoy POSB Simple Pleasures" is a customer-loyalty program that offers immediate and valuable discounts at over one hundred merchant-outlets island-wide, simply by showing their POSB MasterCard and POSB ATM card.

To celebrate its first anniversary, DBS will be giving out gifts to its POSB MasterCard customers in recognition of their support. A total of 3,000 Sasha bears and 3,000 Golden Village movie passes will be given to POSB MasterCard customers when they spend $200 and $100 on their credit and debit card respectively. The promotion will run between August 16 to August 31 2002.

"It is just our way of saying thank you to our customers," Chan said. "The acquisition of more than 150,000 cards in such a short span of time is almost unprecedented in the Singapore market and we have customers in Singapore to thank for it."

The POSB MasterCard was also named by MasterCard International as the "Best Program of the Year" Award 2001, in recognition of its overwhelmingly positive reception and innovative marketing campaigns.

T.V. Seshadri, Vice President and Country Manager for Singapore, MasterCard International, said, "MasterCard would like to congratulate DBS Bank on the first anniversary of the launch of the POSB MasterCard Credit and Debit cards. This was one of the most successful MasterCard marketing programs launched in 2001. We are delighted with its success and look forward to working with DBS Bank to launch new and innovative products in Singapore."

Since its launch in August last year, DBS has introduced various promotional campaigns for the POSB MasterCard. Its latest "Choose Your Own Car" lucky draw promotion will see two lucky winners driving away with their choice of either a Toyota Picnic 2.0 or Toyota RAV4 2.0. Ten chances are awarded for each new approved application, and one chance is chalked up for every S$50 spent on the card.

The POSB MasterCard is accepted at more than 24 million establishments in 190 countries worldwide. Customers can sign for purchases, access account information and make withdrawals at any of DBS/POSB's 800 ATMs in Singapore as well as ATMs overseas through the MasterCard Cirrus network.

The POSB MasterCard Credit is an all-in-one credit card, which includes ATM and NETS functions. Credit card applicants must be at least 21 years old and earn a minimum of S$30,000 per annum.

The POSB MasterCard Debit has no minimum income requirement. It is open to applicants 17 years old and above holding one of these accounts: DBS Savings Plus; DBS Autosave; or, POSB Savings Passbook.

Of the 150,000 cards issued, about 60 per cent are credit cards, while 40 per cent are debit cards.

DBS Bank is one of the largest banks 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 our website www.dbs.com.