Cheques For New Singapore Shares Can Be Exchanged For Cash At DBS/POSB Branches And Singapore Post Offices

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63 SingPost offices to process first-party encashment of NSS cheques till 28 February 2003

SINGAPORE, November 18, 2002 - DBS Bank would like to remind Singaporeans that in addition to DBS/POSB branches, they can exchange their own New Singapore Shares (NSS) cheques for cash personally at all 63 Singapore Post (SingPost) offices. The service is available till 28 February 2003. The Bank has made the arrangement with SingPost to provide additional first-party cheque exchange outlets for Singaporeans who do not have bank accounts or want to exchange NSS cheques for cash over the counters.

Selected SingPost offices are also open at night and on Sundays and Public Holidays. The public can access the Singapore Post website www.singpost.com.sg for a list of SingPost offices' locations and operating hours.

Third-party NSS cheque exchange service for special cases, such as where the NSS cheque payee is an immediate family member who is medically unfit, is available only at DBS/POSB branches (excluding POSB Centres located at the NTUC FairPrice outlets). Supporting documents and proof of relationship are required.

Singaporeans who wish to exchange their NSS cheques for cash over-the-counter at DBS/POSB branches and SingPost offices are required to pay an administrative fee of $4. The fee is waived for Singaporeans who are 62 years old and above. Alternatively, the NSS cheques can be deposited (at no administrative fee) into the payee's bank account with any bank in Singapore. All NSS cheques are valid for 90 days from the date of issuance.

About DBS
DBS Bank is the largest bank in Singapore as measured by assets, 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 company website www.dbs.com.