DBS BANK TO LAUNCH NON-CONVERTIBLE HYBRID TIER 1 SECURITIES
IN THE FORM OF PREFERENCE SHARES

SINGAPORE, 15 May 2008 - DBS Bank announced it will launch today an offering of non-convertible hybrid Tier 1 securities in the form of preference shares to supplement its Tier-1 regulatory capital base.

Jeanette Wong, Chief Financial Officer of DBS Bank, said: "While we are wellcapitalised at this time, we are taking advantage of favourable market conditions to issue the hybrid Tier 1 securities. The proceeds from this issue will strengthen our capital position and support the continued growth of our pan-Asia franchise."

Further details will be released when the process is completed.

The offering's sole lead manager and bookrunner is DBS Bank.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The proposed offering described herein will not be registered under the U.S. Securities Act of 1933 or with any securities regulatory authority of any state or other jurisdiction in the United States and may not be offered or sold, directly or indirectly, into the United States unless the securities are so registered or an exemption from the registration requirements is available.

 

About DBS - Living, Breathing Asia
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is the largest bank in the country 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.

As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expand its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.

DBS acknowledges the passion, commitment and can-do spirit in each of its 14,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.