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Further to its announcement on 31 May 2004, United Overseas Bank Limited ("UOB") is pleased to announce that its wholly-owned subsidiary, UOB International Investment Private Limited, has completed the acquisition of 23% of the common shares in P.T. Bank Buana Indonesia Tbk ("Bank Buana"). Bank Buana is now an associated company of UOB.

By Order of the Board

Vivien Chan
Company Secretary

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