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DBS makes clean sweep of all country awards by financial magazine

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Bank wins Best Cash Management Bank, Best Trade Finance Bank and Best Sub-Custodian Bank in Singapore

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DBS extends corporate internet banking services into the region

SINGAPORE, 24 MARCH 2006 – DBS Bank made a clean sweep of all three Singapore awards in The Asset Triple A Transaction Banking Awards 2006 in February this year. DBS was named Best Cash Management, Trade Finance and Sub-Custodian Bank in Singapore over other global and local banks in Singapore.

In considering DBS for the awards, The Asset assessed DBS' capabilities and performance based on submissions from the Bank, evaluations on the business strength of a participating bank, new initiatives undertaken, the Bank's market position, and the type of customers a bank is servicing.

According to The Asset, "DBS cash management business trades not just on its status as Singapore's largest domestic bank with the most extensive branch network, but also on its highly reputed technology base and effective management and market expertise." The magazine also recognised the Bank's strength in recent years in Trade Finance on intermediating intra-Asia trade, and further commented that "DBS's commitment to the sub-custody market is beyond question."

Managing Director, Head of South and South East Asia, and Head of Global Transaction Services, DBS Bank, Mr Rajan Raju, said "Being awarded all three Singapore awards is an affirmation of the Bank's commitment to delivering the best services to our clients. The awards are a testament to the fact that our transaction banking products and services are tailored to meet our customers' unique Asian requirements. Not only do we partner our clients in offering quality solutions but we also initiate and support the development of transaction banking infrastructure that benefits the whole industry. These awards validate the Bank’s focus on helping our clients, both the large corporates and the SMEs, push into the region. Moving forward, we will expand our successful business model, expertise and value-added propositions to the regional market as we grow with our customers."

DBS has been given the go-ahead to introduce their corporate internet banking platform, IDEALTM in China in February this year. IDEALTM is an integrated web-based solution that will enable corporates and institutions to manage their cash management and trade finance requirements more effectively. IDEALTM was introduced to India and Indonesia in the fourth quarter of 2005 to complement existing cash management and trade finance services being provided in these countries. DBS’ corporate internet banking channel is currently offered in Asia, including Singapore and Hong Kong. PT. Bank DBS Indonesia (DBSI) had also signed a strategic alliance with PT. Bank Internasional Indonesia (BII) that allows DBSI’s corporate customers to access BII’s nationwide branch network for cash management services in Indonesia from May last year.

"We are enhancing the breadth of transaction banking services and products that the Bank offers in the region in tandem with the growth of the Bank throughout the region. Our Cash Management and Trade Finance services are already being offered in India, Indonesia and China, on top of Singapore and Hong Kong" said Rajan Raju, "As an Asian player who knows Asia deeply, DBS hopes to bring our advantage of local knowledge and expertise to better service our clients."

Note to Editor:

DBS’ performance in transaction banking services has been recognised over the years

• 5 time winner of Global Finance's Best Trade Finance Bank Award (2001-2004, 2006)
• Named Best Cash Management Bank in Singapore by The Asset in 2005
• Voted Best Local Cash Management Bank (Singapore) by Corporates and Best Domestic Bank For Local Currency Cash Management Services (SGD) by Financial Institutions in the Asiamoney Cash Management Polls 2005
• Global Finance named DBS as the World’s Best Corporate/Institutional Internet Bank in Asia-Pacific and Singapore in 2005
• Ranked 1st (weighted category) for Global Investor’s Best sub-custody providers in Asia 2005
• Named Top-Rated Bank in Singapore by Global Custodian 5 years in succession (2001—2005)

About DBS

Headquartered in Singapore, DBS is one of the largest financial services groups in Asia with almost five million customers and operations in 14 markets. The largest bank in Singapore and the fifth largest banking group in Hong Kong as measured by assets, DBS’ "AA-" and "Aa2" credit ratings are among the highest in the Asia-Pacific region. 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 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.