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DBS launches Treasures Priority Banking Service in Indonesia

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Plan is to open five Treasures Centres by year end

JAKARTA, AUGUST 3, 2005 - PT. Bank DBS Indonesia (DBSI) announced today that it has launched its priority banking service for the mass affluent customers in Jakarta.

It said that DBSI's newly-renovated branch at Thamrin in Jakarta's central business district, will offer a suite of services to foreign and local residents with a minimum of Rp. 500 million (or USD$50,000) in assets including deposits and investments.

The Thamrin Treasures Centre will provide customers with access to rupiah and foreign currencies savings and time deposits, mortgage loans, remittances and foreign exchange services. Designated relationship managers (RMs) will be on hand to offer customers personalised services tailored to their financial needs. In addition, customers will also enjoy dining and shopping privileges at world class fashion houses, hotels, restaurants and specialty stores in Indonesia and Singapore.

Rajan Raju, DBS' Managing Director and Head of South and Southeast Asia, said: "We are excited with the launch of our Treasures priority banking service in Jakarta. This will be the first of at least five Treasures centres we are planning to open in Indonesia by early October this year.

"DBS has leading positions in consumer banking, treasury and markets, asset management, securities brokerage and capital markets in Singapore and Hong Kong, Asia's two key financial centres. Our customers will benefit from our knowledge of the Asian markets, and have access to the depth and breadth of expertise within DBS Bank.

"Our commitment in Indonesia is for the long term as evidenced by our latest investment in the consumer banking segment. We are optimistic about the economic prospects for Indonesia."

In the coming months, DBS will be opening similar Treasures Centres in Kelapa Gading, Muara Karang and Tomang - three affluent residential districts in north and west Jakarta. Another Treasures Centre is also planned for Bandung, an affluent city one and half hours drive south-east of Jakarta. The Bandung Treasures Centre will be located in the prosperous residential area of North Bandung.

Budiman Tanjung, Head of Consumer Banking, DBSI said: "With the opening of the Thamrin Treasures Centre, we will be able to reach out to approximately 80,000 mass affluent residents in the Thamrin area. When the other Jakarta centres are opened, we hope to increase this reach to the 500,000 mass affluent residents in Jakarta.

"We have 70 RMs trained and ready to service our clients and potential clients and we hope to increase this to 130 by year end. We are quietly confident that this service will be well received as we can leverage of our parent company's expertise and distribute a wide range of progressive products. Besides, being an Asian bank, we know what our customer wants and needs.

In 2002, DBS branded its priority banking service 'Treasures' in a move to further solidify its position in this much sought-after customer segment. DBS is the leading player in its key bases of Singapore and Hong Kong.

Mr Tanjung added: "The timing is perfect to enter the mass affluent wealth management business as Indonesia is experiencing strong growth and strong consumer confidence since the Asian financial crisis.

"Through these initial steps of providing priority banking services, we intend to grow our brand visibility gradually and consolidate our position in Indonesia for our future expansion."

DBSI has branches in other major cities throughout Indonesia in Surabaya, Semarang and Medan. Prior to entering the Treasures business, DBSI's focus was on wholesale and corporate banking. It also provides a whole spectrum of investment banking services. DBSI also commenced niche expansion into enterprise banking a few years ago.

About DBS

Headquartered in Singapore, DBS is one of the largest financial services groups in Asia. The largest bank in Singapore and the fifth largest banking group in Hong Kong as measured by assets, DBS has leading positions in consumer banking, treasury and markets, asset 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 Thailand, Malaysia, Indonesia, India and The Philippines. In China, the bank has branches and representative offices in Shanghai, Beijing, Guangzhou, Shenzhen, Fuzhou, Tianjin and Dongguan. The Bank's credit ratings are one of the highest among banks competing in the Asia-Pacific region, and the highest among banks in Singapore. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com.

About PT. Bank DBS Indonesia

PT Bank DBS Indonesia, a 99%-owned subsidiary of DBS Bank, operates in Jakarta, Surabaya, Medan and Semarang, providing a full range of banking services including corporate lending, trade financing, syndicated finance, foreign exchange and consumer credit. It has a significant presence in the large corporate and medium-sized enterprise market.