Term loan for Astro signed

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Maiden Offshore Term Loan for Malaysia's dominant cross media company

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DBS also mandated as joint bookrunner of Astro's IPO

SINGAPORE, SEPTEMBER 26, 2003 - DBS Bank announced today it entered into an agreement with Astro All Asia Networks Plc to arrange a US$265 million term loan facility as Sole Co-ordinator, together with joint mandated lead managers Sumitomo Mitsui Banking Corporation and CIMB / Bumiputra-Commerce Bank.

The 2-year term loan is Astro's maiden offshore syndicated loan.

Speaking at a signing ceremony in Kuala Lumpur earlier today, DBS Bank's Vice-Chairman and CEO Jackson Tai said DBS is pleased to be the sole co-ordinator for the credit facility and the much-coveted role of joint global bookrunner of Astro's Initial Public Offering.

"We have been building our investment banking track record in the regional telecommunications, media and technology arena in the last two years. We have joint led two financings in 2001 and 2002 for Maxis, another Usaha Tegas group company. Our investments bankers have led and completed to date ten other syndicated finance, equity and debt capital markets and mergers & acquisitions transactions in the Telecommunications, Media and Technology sector in Singapore, Philippines, Thailand, Hong Kong and Korea."

The loan is part of Astro's capital restructuring programme in advance of its IPO. The funds will also be applied to the acquisition of Celestial Pictures.

Incorporated in the U.K, holding company Astro All Asia Networks is a leading integrated multimedia company in Asia and Malaysia's dominant cross media operator. Its principal activities are providing Direct-to-Home (DTH) satellite multi-channel subscription television services and radio broadcasting services, producing and distributing film and television programming and so on. Its' multi-channel DTH service attracts 1.2 million household subscribers and more than 5 million viewers.

About DBS

Headquartered in Singapore, DBS Bank is one of the largest financial services groups in Asia. The largest bank in Singapore and the fourth biggest banking group in Hong Kong as measured by assets, DBS has dominant positions in consumer banking, treasury and markets, securities brokerage, equity and debt fund raising. Beyond the anchor markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its operations in Thailand, The Philippines, and Indonesia. In China, the bank has branches and representative offices in Shanghai, Beijing, Shenzhen, Fuzhou and Tianjin. The Bank's credit ratings are among 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.