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CIMB Principal to Manage Southeast Asian Investments for Korean Fund
25 April 2008

Kuala Lumpur: CIMB-Principal Asset Management (S) Pte Ltd will manage investments for the KDB SEA Dual Core Equity Fund, which will be launched by KDB Asset Management in Seoul on 28 April 2008.

The KDB SEA Dual Core Equity Fund will invest in Malaysian and Indonesian equities in diverse sectors including energy, resources, palm oil, infrastructure, real estate and finance. CIMB Principal's regional team of fund managers in Malaysia, Indonesia and Singapore will manage these investments.

KDB Asset Management is a subsidiary of Korean Development Bank, which is also a major shareholder of Daewoo Securities Co Ltd. In February this year, CIMB Group had entered into a strategic alliance with Daewoo Securities to collaborate in investment banking, stockbroking and asset management activities.

"The KDB SEA Dual Core Equity Fund represents the first product of this collaboration between CIMB Group and Daewoo," said Dato' Nazir Razak, Group Chief Executive of CIMB Group. "By combining our strengths"”in this case, CIMB's intimate knowledge of Malaysian and Indonesian markets and Daewoo's strong retail investor base at home"”we are able to offer Korean investors access to investments in Southeast Asia," he said.

Both CIMB Group and Daewoo currently offer their clients referral brokerage flows. Other joint initiatives are in the pipeline, including providing equity and debt capital products and distributing both parties' investment funds.

Investors in Korea can participate in the KDB SEA Dual Core Equity Fund with as little as KRW1,000 (USD1), the price of each unit. This open-ended fund has a target size of KRW50 billion (USD50 million).

About CIMB Group

CIMB Group is Malaysia's second largest financial services provider and one of Southeast Asia's leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, its key regional offices are located in Singapore, Indonesia and Thailand.

CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the majority shareholder of PT Bank Niaga in Indonesia.

CIMB Group is owned by Bumiputra-Commerce Holdings Bhd, which is listed on Bursa Malaysia with a market capitalisation of over RM37 billion (USD11 billion). The Group has over 24,000 employees located in 11 countries.