45,149 Full Year 2005 Financial Performance Summary

6 DBS GROUP HOLDINGS LTD AND ITS SUBSIDIARIES Non-Interest Income In millions 4th Qtr 2005 4th Qtr 2004 +- 3rd Qtr 2005 Year 2005 Year 2004 +- Fee and commission income Stockbroking 24 27 11 32 106 120 12 Investment banking 45 34 32 30 134 98 37 Trade and remittances 41 41 - 46 172 162 6 Loan related 28 33 15 29 157 157 - Guarantees 6 6 - 8 28 26 8 Deposit related 20 20 - 19 77 82 6 Credit card 23 23 - 25 90 87 3 Fund management 12 10 20 12 53 43 23 Wealth management 32 30 7 30 129 119 8 Others 10 9 11 11 40 39 3 Total 241 233 3 242 986 933 6 Dividend and rental income 52 16 100 27 127 104 22 Other income Net trading income - from trading businesses - from other businesses 44 62 91 5 52 100 45 44 256 97 584 10 56 100 Net gain on non-trading investments 33 25 32 32 102 644 2 84 Net gain on properties and other fixed assets 306 1 - NM 4 314 4 100 Others 3 2 50 1 10 6 67 Total 324 123 100 38 585 1,248 53 Total non-interest income 617 372 66 307 1,698 2,285 26 Non-interest income as a percentage of operating income

43.5 35.9

29.2 36.6 45.9 NM: Not meaningful Notes: 1 Includes one-time gains of 303 million. 2 Includes one-time gains of 497 million. Non-interest income for fourth quarter 2005 increased 66 to 617 million from fourth quarter 2004, mainly due to a 303 million gain from the sale of DBS Tower One and Tower Two. Excluding the one-time gains, non-interest income declined 16 from fourth quarter 2004 mainly due to lower net trading income, cushioned by higher dividend, fee and commission income. Compared to third quarter 2005, non-interest income was 2 higher. • Fee and commission income was 241 million in fourth quarter 2005. As compared to fourth quarter 2004, fee and commission income improved 3 due mainly to higher fees from investment banking, partially offset by lower income from stockbroking and loan related activities. The income was flat from last quarter as lower fees from stockbroking, trade and remittances were offset by higher fees from investment banking and wealth management activities. • Excluding the one-time gains, Other Income in fourth quarter 2005 decreased 102 million and 17 million from fourth quarter 2004 and third quarter 2005 respectively, driven by lower net trading income.