DBS COO FRANK WONG TO RETIRE TOWARDS THE END OF THE YEAR

SINGAPORE, 15 February 2008 - DBS Group Holdings said Chief Operating Officer Frank Wong will retire towards the end of the year, capping nine years of distinguished service at the bank.

Mr. Wong, who is concurrently Vice-Chairman (DBS Bank) as well as Chairman of DBS Bank (Hong Kong) and DBS Bank (China), had expressed his desire to retire in 2006, but kindly agreed to defer his retirement plans time and again. He will remain at DBS till towards the end of the year to ensure a smooth transition.

DBS said Mr. Wong had been instrumental in DBS' journey to transform itself into a leading bank in Asia, and is very proud of the team he has built up.
 

About DBS
Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with operations in 15 markets. The largest bank in Singapore as measured by assets, and a leading bank in Hong Kong, DBS' "AA-" and "Aa1" credit ratings are among the highest in the Asia-Pacific region. DBS has leading positions in corporate, SME and consumer banking, treasury and markets, wealth management, 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 China, India, Indonesia, Malaysia, Thailand and The Philippines. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com.