DBSH PERFORMANCE SHARE PLAN DBSH EMPLOYEE SHARE PLAN

21

13.4 DBSH PERFORMANCE SHARE PLAN

The DBSH Performance Share Plan the “PSP” is a stock-based plan where DBSH ordinary shares are given free to eligible employees. Eligible employees currently are similar to the DBSH Share Option Plan Note 13.3. During the financial year, awards in respect of an aggregate of 768,360 2002: 598,380 DBSH ordinary shares were granted to selected employees pursuant to the PSP. When the shares are awarded, remuneration expenses are computed using the average purchase price adjusted for provision for diminution in value and recognised in the profit and loss account on a straight-line basis over the relevant performance period.

13.5 DBSH EMPLOYEE SHARE PLAN

The DBSH Employee Share Plan the “ESP” is intended to cater to all employees of the DBSH Group and associated companies of the DBSH Group who are not eligible to participate in the DBSH Share Option Plan, the DBSH Performance Share Plan or other equivalent plans. During the financial year, there were no DBSH ordinary shares granted to eligible employees pursuant to the ESP 2002 : 438,940 shares. When the shares were awarded, remuneration expenses were computed using the average purchase price adjusted for provision for diminution in value and recognised in the profit and loss account on a straight-line basis over the relevant performance period. 22 14 SHARE CAPITAL The share capital of DBS Bank at December 31, 2003, is as follows: In S millions 2003 2002 Authorised 2,000,000,000 ordinary shares of S1 each 2,000 2,000 600,000,000 non-redeemable convertible preference shares of S2 each 1,200 1,200 300,000,000 non-voting convertible preference shares of S1 each 300 300 800,000 non-cumulative redeemable non-convertible perpetual preference shares of US0.01 each and each with a liquidation preference of US1,000 17,500 non-cumulative redeemable non-convertible perpetual preference shares of S0.01 each and each with a liquidation preference of S10,000 - a - a 1,100,000,000 non-cumulative non-convertible perpetual preference shares of S0.01 each and each with a liquidation preference of S100 11 11 1,511 1,511 Issued and fully paid-up 1,962,302,697 2002: 1,962,302,697 ordinary shares of S1 each 1,962 1,962 11,000,000 2002: 11,000,000 non-cumulative non- convertible perpetual preference shares S0.01each Total 1,962 1,962 Amount under S500,000 a Amounted to S175. 15 RESERVES

15.1 SHARE PREMIUM ACCOUNT