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Singapore, 14 April 2000 - United Overseas Bank Limited (UOB) and Kay Hian Private Limited are pleased to announce the launch of UOB Invest Credit today. UOB Invest Credit is the first online share financing and trading facility of its kind in Singapore.

Essentially, UOB Invest Credit offers a generous credit limit of up to six times its customer's monthly salary (maximum S$100,000) for the online trading of stocks and shares. Unlike existing share margin trading facilities, UOB Invest Credit does not require any cash or share deposit prior to the use of the facility.

By signing up for a UOB Invest Credit Account, successful applicants can begin trading with Kay Hian's Internet Trading System. Customers can also conveniently view their trading activity and share portfolio via UOB's Internet banking service, UOB CyberBank.

The introduction of UOB Invest Credit is especially timely, in view of the recent implementation of a shorter settlement period of T + 3. Said Ms Sim Puay Suang, Executive Vice President, Consumer Services Sector at UOB, "A loan facility of this kind, dedicated to online stocks and shares trading, has hitherto not been available and UOB Invest Credit has been jointly created with Kay Hian for the purpose of meeting this need. Customers will welcome the introduction of UOB Invest Credit as it empowers them to trade in shares for more possible gains."

Added Ms Sim, "Our partnership with Kay Hian, one of Singapore's largest and most prominent stockbroking houses, is strategic as we jointly enhance our commitment to being leaders and innovators by offering new and relevant products for the benefit of our retail investors."

Elaborated Mr Tang Wee Loke, Deputy Managing Director of Kay Hian Private Limited, "The influx of new walk-in customers without a recommendation or knowledge of their financial history makes it difficult for brokerage houses to assess their creditworthiness. Kay Hian has taken a strong view on this in order to safeguard and protect our existing customers and their investments with us."

"This new arrangement with UOB will now allow us to address this issue with new walk-in customers. Under this arrangement, UOB will assess their creditworthiness and guarantee their trades up to a preset limit. We see this new agreement as part of our symbiotic and strategic relationship with UOB and we aim to offer more new products in the future," said Mr Tang.

Getting Started
To apply for a UOB Invest Credit Account, customers need to be a Singaporean or a Singapore Permanent Resident, aged 21 years and above and earning a minimum of S$30,000 per annum.

Launch Promotion
Customers who sign up for UOB Invest Credit before 31 July 2000 and are successful in their applications will enjoy a low interest rate of 6% p.a. till 31 July 2000 (instead of the usual 12% p.a.), a waiver of transaction fees for the first six months, and a welcome gift.

Customers can apply for a UOB Invest Credit Account at either of two roadshows - one to be held at the UOB Plaza Atrium (80 Raffles Place) from 18 to 20 April 2000, and the other to be held at UOB Somerset Branch (230 Orchard Road, Faber House) from 22 to 23 April 2000. Both roadshows will open daily from 11.00 am to 7.00 pm. Alternatively, customers can visit any UOB Group branch or Invest Shop to apply for the facility, or call UOB PhoneBanking at 1800 22 22 121 (24 hours, toll-free) for further enquiries.

In the near future, UOB Invest Credit will also be available to customers of other stockbroking houses. This will give customers more choices and enable them to enjoy the convenience and benefits of UOB Invest Credit.

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