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Singapore, 9 June 2003 - United Overseas Bank Limited (UOB) today announced the launch of UOB FlexiDeposit.

Higher Interest Rates, More Flexibility with UOB FlexiDeposit
UOB FlexiDeposit is a new statement-based savings account from UOB that offers customers higher interest for their savings. In fact, its interest rates are comparable with those of fixed deposits and are currently the highest for savings accounts among the major banks in Singapore.

With an initial deposit of S$1,000, a UOB FlexiDeposit customer can enjoy the following interest rates:

Said Ms Sim Puay Suang, Executive Vice President, Personal Financial Services, "Given the current low interest rate environment, UOB FlexiDeposit is an attractive savings alternative for depositors as it offers them the opportunity to grow their money faster, with the flexibility of being able to use their cash whenever they need."

"Going by today's interest rates for example, customers who deposit S$100,000 in a UOB FlexiDeposit Account will earn over three times more interest on their savings as compared with another bank. I am therefore confident that depositors will find UOB FlexiDeposit the smarter way to grow their wealth," Ms Sim added.

All Round Convenience with UOB FlexiDeposit
In addition to giving more interest and more flexibility, UOB FlexiDeposit also offers account holders the following benefits:

• Monthly statements that keep them on top of their finances
• A UOB Visa Electron Card that gives them access to their cash worldwide
• Round-the-clock access to their UOB FlexiDeposit accounts through UOB Personal Internet Banking and/or UOB Phone Banking

The Chance to Win a Luxurious 'The Gardens At Bishan' Condominium Unit in the UOB 'Save To Win' Draw
Customers who open UOB FlexiDeposit accounts between 9 June 2003 and 31 December 2003 (both dates inclusive) will also stand the chance to win a luxurious home in 'The Gardens At Bishan' on Sin Ming Walk in the UOB 'Save To Win' Draw.

A qualifying¹ UOB FlexiDeposit customer will receive 1 Draw Chance for every S$1,000 ², and 10 Bonus Chances for every S$10,000 ² in his/her account.

The UOB 'Save To Win' Draw is also open to customers who place new or renew their UOB Singapore Dollar Fixed Deposit ³ and UOB Fixed Deposit Plus ⁴.

Customers can open their UOB FlexiDeposit Accounts at any UOB Group branch. To find out more about UOB FlexiDeposit and the UOB 'Save To Win' Draw, they can call 1800 22 22 121 (24-hour) or visit www.uobgroup.com.

1. Depositors must maintain a minimum average daily balance of S$3,000 in their UOB FlexiDeposit Accounts during the month to qualify for lucky draw chances for the month.
2. Based on average daily balance.
3. Depositors must place/renew, from 1 June 2003 to 31 December 2003, with a minimum deposit of S$5,000 for a minimum tenure of 12 months in their UOB Singapore Dollar Fixed Deposit accounts to qualify for the lucky draw chances.
4. Depositors must place, from 1 June 2003 to 31 December 2003, a minimum deposit of S$5,000 in their UOB Fixed Deposit Plus accounts to qualify for the lucky draw chances.
   
   * Other terms and conditions of the UOB 'Save To Win' Draw apply.

For further information, please contact:

Mr Gary Lim	Head, Deposits Division - Product Management Personal Financial Services Tel: (65) 6539 2281 Fax: (65) 6538 2532 Email: Gary.LimKG@UOBgroup.com
Ms Lim Yin-Fern	UOB Corporate Affairs Tel: (65) 6539 3990 Fax: (65) 6538 2559 Email: Lim.YinFern@UOBgroup.com

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