Investment Announcements

DBS Statement

11 February 2010

Chairman, DBS Board and Senior Management are committed to deliver fair dealing outcomes to our customers. Since January 2009, DBS has taken proactive steps to further strengthen its sales process and these include putting in place an expanded fact finding process, enhanced risk disclosure and additional customer-product suitability checks.

DBS has stepped up staff training and our staff are tested on their product knowledge regularly. We are committed to ensuring that our staff are competent, trained and possess the relevant knowledge and skills to deal with customers fairly. DBS’ staff remuneration model has been based on a balanced scorecard approach, taking into account a variety of factors, eg the quality of the fact find process and customer satisfaction.

In addition, DBS has engaged KPMG LLP as the External Person ("EP") to review the implementation of its Action Plan to comply with the directions as set out by the MAS. DBS has implemented the Action Plan together with any improvements recommended by the EP and will ensure that the same continue to be effectively implemented on an on-going basis, and across the key markets it operates in.

To further demonstrate the DBS Board and Senior Management’s commitment to do what’s right for our customers, in October 2009, we were the first bank to give customers 14 days to review their investment decisions, over and above the 7 day cooling-off period, which is the industry norm.

DBS will continue to proactively enhance its processes to put in place best practices, so as to uphold the standards expected of the largest bank in Singapore.