DBS STATEMENT CONFIRMS LENDER'S COMMITMENT TO BUY 99% OF DANAMON

(The following statement from DBS was received by e-mail. The sender verified the statement.)

"We confirm that documents for the Fit & Proper Test application have been submitted. We are committed to the transaction and will be closely guided by BI in every step of the process.”

“Consistent with what was stated in our earlier communications, we will be guided by BI and hope to acquire 100% stake in AFI from Fullerton Financial Holdings. AFI owns 67.37% stake in Danamon. Following that, we hope to acquire up to 99% in Danamon through a mandatory tender offer, subject to BI’s approval."