DBS Appoints Edmund Koh As Head Of Singapore Consumer Banking

SINGAPORE, OCT 1, 2002 - DBS Bank said today that Edmund Koh was appointed head of Singapore Consumer Banking. Koh continues to report to Jackson Tai, chief executive officer of DBS Bank, who oversees the group's regional consumer banking business.

Koh joined DBS Bank in May 2001. In his new capacity, Koh will have direct responsibilities to grow the Singapore consumer banking franchise, including credit cards, investment, insurance and banking products and private banking. He will be supported by the current team of experienced bankers, including Elsie Foh, Lam Siok Loon, Chan May Ping, and Seck Wai Kwong.

DBS also announced changes to the organisational structure within Singapore Consumer Banking. These changes are expected to better align the consumer businesses and allow the Bank to leverage on the power of its two brands – POSB and DBS – to cater to customers' cradle to retirement needs.

The new structure will have four clear business segments: POSB, DBS, DBS Treasures and DBS Private Banking. Foh will assume an expanded role as head of the four segments. Lam will focus on growing the POSB franchise so as to strengthen the Bank's relationships with the POSB customers by providing them with up-to-date, convenient and affordable banking.

In line with the alignment changes, Enterprise Banking will now be a separate business unit, reporting directly to the CEO. Managing Director & Head of Enterprise Banking Hong Tuck Kun and his team will continue to focus and dedicate their resources to assist the small and medium enterprises in their banking and financial needs as they gear up for the new economy.

To further align the wholesale banking fund management capabilities within the Bank, DBS Asset Management will now be part of the wholesale banking business group, led by Senior Managing Director Frank Wong.

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 obtained through our company website www.dbs.com.