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Singapore, 27 October 2001 - The corporate marriage of United Overseas Bank (UOB) and Overseas Union Bank (OUB) places the Combined Group as the largest bank in Singapore and a dominant player in the ASEAN region. This accelerates the realisation of our vision to be "a premier bank in the Asia-Pacific region, committed to providing quality products and excellent customer service".

Further to the announcement of the Board members and the Top Management team on 28 September 2001, we are pleased to announce the Senior Executive appointments for the Combined Group. This is the result of a carefully managed identification and selection process to ensure the right candidates are appointed to drive the Combined Group forward.

The new Senior Executive team comprises the following:

	Terence Ong Sea Eng Senior Executive Vice President, Global Treasury/Asset Management
	Samuel Poon Hon Thang Senior Executive Vice President, Institutional Banking
	Joseph Chen Seow Chan Managing Director, Trading & Institutional Treasury Products
	Gracy Choo Special Assistant to Deputy Chairman and President
	Bill Chua Teck Huat Executive Vice President, Operations
	Susan Hwee Wai Cheng Executive Vice President, Information Technology
	Kuek Tong Au Executive Vice President, Corporate Services
	Michael Lau Hwai Keong Executive Vice President, International/Strategic Planning & Research
	Francis Lee Chin Yong Executive Vice President and CEO, UOB Malaysia
	David Loh Hong Kit Executive Vice President, Risk Management & Compliance
	Sim Puay Suang Executive Vice President, Personal Financial Services
	Philip Tan Yuen Fah Special Assistant to Senior Deputy Chairman
	Wee Joo Yeow Executive Vice President, Corporate Banking
	Wong Chong Fatt Executive Vice President, High Networth Customers & Managing Director, Banknotes, Futures & Personal Treasury Services
	Yeo Eng Cheong Executive Vice President, Commercial Credit

These appointments are effective as of 1 January 2002 and in the interim, the existing Senior Executive team will continue in their current roles at their respective banks.

The newly appointed Senior Executive team will play a key role in driving forward the business of the Combined Group. Immediately, they will lead the integration of UOB and OUB in order to enhance shareholder value through streamlining operations to maximise synergies.

Throughout the integration effort, our customers remain a key priority. The new Senior Executive team will ensure that every UOB and OUB customer continues to receive the highest quality services and benefit from enhanced product offerings.

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