News Release - 19 Oct 2006

United Overseas Bank Ups The Ante With
Even More Regional Privileges For Its Credit Cardmembers

The Card Issuer In A First-Ever Strategic Tie-Up With
China Merchants Bank and Samsung Cards To Increase
Its Regional Privilege Offering

The next time when you visit Madame Tussaud’s Wax Museum in Shanghai, go for a sumptuous meal at Colouful Yunnan in Beijing or visit Lotte Theme Park in South Korea, you may flash out your UOB credit card to get a discount. As a UOB credit cardmember, you will now enjoy additional privileges when making transactions while in Shanghai, Beijing and South Korea. As part of its continuing effort to provide added value to it cardmembers, the United Overseas Bank Limited (UOB) will up the ante by offering even more regional privileges following a first-ever strategic tie-up with China Merchants Bank and Samsung Cards. The partnership is a regional cooperation between the three financial institutions to cover 14 cities in seven countries in an exchange programme to share exclusive cross-border offers and discounts.

Each card issuer has drawn on their respective strength in the local market to source for special deals in dining, shopping and leisure benefits so that each other’s credit cardmembers will be able to enjoy the card privileges when they travel to the three cities. Thus, from 20 October 2006, UOB credit cardmembers will be able to maximise on their credit card benefits when they visit Shanghai, Beijing or South Korea.

In 2005, UOB launched its regional privilege programme, and is the first Asian bank to offer such a wide coverage of merchants across the Asia-Pacific. It continued to intensify its effort this year, and to date has increased its base to include over 1,500 merchants across the Asia-Pacific in categories such as dining, leisure, and shopping.

Currently, UOB credit cardmembers are already enjoying the benefits from the regional privilege programme already in place with merchants in Malaysia (Kuala Lumpur and Johor Bahru), Indonesia (Jakarta and Bali), Thailand (Bangkok and spa resorts in the upcountry region), Australia (Sydney, Melbourne, Gold Coast, Perth) and Hong Kong. UOB has been able to tap on its presence and network in these countries to provide value-add to its customers when they transact using their UOB credit card.

Mr Francis Hsu, Senior Vice-President and Regional Head of Credit Card/Brand Management at UOB said: “We are pleased to be working with two leading card issuers in each of their respective countries. At the same time, we are also extremely excited over another first for UOB. By leveraging our own network of merchants, coupled with an enlarged merchant base from this strategic partnership, UOB is the first Asian card issuer to achieve such an extensive merchant base across the region.”

Mr Hsu added, “We are always looking at ways to innovate and this partnership is testament of our efforts. UOB’s regional credit card privileges programme not only allows us to provide value-added benefits to our cardmembers, but at the same time, we are also able to create a truly rewarding Asian travel experience for them. Since Singaporeans are known to enjoy both shopping and food, it’s UOB’s way of providing a channel for its cardmembers to stretch their dollar with every spend when transactions are made in these cities. Ultimately UOB understands customers’ needs. As a leading credit card issuer in Singapore, we want to be able to continue to build up our regional merchant base so that UOB credit cards will be the cards of choice in all countries where UOB has a presence.”

The greatest pleasure of travel isn’t always what you find there. Sometimes it is what you bring. Therefore, the next time you are planning for a Ski trip in Korea, a trip up on that hot-air balloon at the Gold Coast or a relaxing spa Holiday in Bali, do not forget your UOB credit card. You will likely be able to get more value out of your trip than you would ever imagine.

For a list of UOB’s merchants in the Asia-Pacific, please refer to www.uobgroup.com/regionalprivileges

UOB is committed to be a premier bank in the Asia-Pacific, providing quality products and excellent service. In line with its regional strategy, the extension of the regional privileges programme reflects the Bank’s effort to serve its expanding customer base even better by providing value-add beyond Singapore. In May this year, the Bank also launched a regional currency fixed deposit.

About United Overseas Bank
UOB is a leading bank in Singapore that provides a wide range of financial services through its global network of 502 branches, offices and subsidiaries in 18 countries and territories in Asia-Pacific, Western Europe and North America. It has banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and the Philippines.

UOB is focused on enhancing its leadership in the consumer market, and is today, the largest credit card-issuing bank in Singapore with a card base that has exceeded one million. The Bank also has the largest base of merchants in Singapore, both for consumer and commercial credit card acceptance. There are currently more than 30 co-brand cards in its stable, covering the retail sector, service providers and non-profit organisations.