DBS leads US$36 mln syndicated loan for Ramatex

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Financing for Malaysia's largest integrated textile manufacturer oversubscribed

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DBS to also lead a follow-on US$36 mln term loan for Ramatex's expansion in China

SINGAPORE, NOVEMBER 14, 2003 - DBS Bank announced today that a three-year, US$36million Syndicated Term Loan Facility for RB (Labuan) Limited, the offshore borrowing vehicle for KLSE-listed Ramatex Berhad ("Ramatex") was oversubscribed by 20%.

DBS Bank, the co-ordinating arranger, said the issue attracted commitments from five banks, namely Mizuho Corporate Bank, Ltd., Labuan Branch, Bumiputra-Commerce Bank (Labuan) Limited, KBC Bank N.V, Labuan Branch, Maybank International (Labuan) Ltd and Overseas-Chinese Banking Corporation Limited, Labuan Branch. Proceeds from the loan will be used for working capital and investment purposes.

Ramatex Berhad is the largest fully integrated, world-class textile manufacturer and exporter in Malaysia for 20 years. The Group has been a one-stop quality source for international textile buyers, including leading brand names, such as Nike, The Gap, Oshkosh and Wal-mart. DBS also announced that it will be the sole arranger for another US$36 million, five-year term loan for Ramatex Industrial (Suzhou) Ltd, the vertically-integrated production arm of Ramatex in Suzhou, China. That financing will be launched shortly.

Speaking at a loan signing ceremony in Kuala Lumpur today, DBS Bank's Vice-Chairman and CEO Jackson Tai said: "Ramatex is at the forefront of a new breed of world-class manufacturers that compete through scale, vertical integration and quality. They are operationally nimble and financially sound, with a diversified and loyal customer base in over 20 countries."

"The Group's financial track record over the last ten years bears testimony to a strong management team that has a clear vision of the marketplace. DBS is pleased to support Ramatex in its overseas expansion."

The Ramatex Group, including its subsidiary companies, Ramatex Textiles Industrial Sdn Bhd and Gimmill Industrial (M) Sdn Bhd, owns one of the most advanced textile manufacturing complexes in South East Asia. Ramatex Industrial (Suzhou) Ltd, part of Ramatex's global operations, is a principal production centre primarily engaged in the spinning of yarn, knitting, dyeing and printing of fabrics.

About DBS

Headquartered in Singapore, DBS is one of the largest financial services groups in Asia. The largest bank in Singapore and one of the top five 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.