WILLIAM TSENG APPOINTED CEO OF ALLIANCE INVESTMENT BANK

Kuala Lumpur, 13 September 2006 – Alliance Investment Bank Berhad (AIB), a member of the Alliance Banking Group, today announced the appointment of William Tseng as Chief Executive Officer of AIB. The appointment takes effect on 11 September 2006.

A MBA graduate from the London Business School, Tseng brings with him vast international experience in investment banking and financial services, having held various senior management positions in Price Waterhouse (UK), Banque Nationale De Paris (Taiwan), ABN AMRO (the Netherlands, Brazil, Malaysia and Indonesia) and Asia Financial Holdings (AFH).

In welcoming Tseng on board AlB, Alliance Banking Group Chief Executive Officer Bridget Lai said: “The appointment of Tseng affirms Alliance Banking Group’s commitment in investing in human capital. Human capital is a key challenge for the investment banking industry and, in Tseng, we have a highly capable and experienced individual with proven track record and global perspective. His asset securitisation and structured finance experience in the Netherlands and Brazil will hold him in good stead in building up the Investment Banking business amidst a challenging environment.

The Management of Alliance Banking Group is confident that Tseng, who will be part of the Bank’s Senior Management committee, will drive greater value and build synergy between the Group’s Investment Banking businesses with other subsidiaries. As part if our strategy to build a knowledge-based organisation, our Investment Banking team will also benefit from Tseng’s vast experience and in-depth knowledge in international Investment Banking. Tseng will also be driving the Bank’s Corporate, Institutional Banking and Treasury businesses as well as stock-broking business“

Tseng strengthened his experience in asset securitization and structured finance during his 10 years attachment with ABN AMRO where as an assistant Global Relationship Manager in Amsterdam, he handled relationships globally with major oil and gas giants, such as Royal Dutch Shell, British Petroleum, ENI, and Statoil. He then was transferred to ABN AMRO’s Structured Finance unit focusing on Asset Securitization, during which he has arranged and structured some of the major securitisation transactions in Europe and led the bank’s product development efforts in Eastern Europe.

From Amsterdam, he moved onto Sao Paulo, Brazil where he was responsible for setting up ABN AMRO’s asset securitisation structured finance practice in Latin America covering Brazil, Argentina, Chile, Uruguay, Paraguay, Venezuela and Colombia.

In 2001, Tseng was posted to ABN AMRO Kuala Lumpur to assume the position of Country Head of Loan Products where he was responsible for setting up the bank’s credit structuring, structured products, portfolio management and business support activities. He was then promoted to Executive Director and Country Head of Global Markets of ABN AMRO in Jakarta, Indonesia, where he headed the Forex markets, credit markets, rates, equity research, trading and credit portfolio management. During his tenure, he set up the bank’s onshore derivatives and credit trading activities and completed ABN AMRO’s first Eurobond issuance out of Indonesia.

Prior to joining Alliance Bank, Tseng was the Managing Director of Asia Financial Holdings (AFH), where he advised on a key treasury project in Bank Danamon, Indonesia and coordinated AFH’s investment in Bank of China.

AIB encompasses the Group’s merchant banking business, stock broking business as well as a research entity. Upon completion of the legal merger targeted for end 2006, AIB will be able to offer a complete suite of financial products and investment banking services, ranging from corporate finance, debt capital market, equity capital market to asset and fund management, as well as a wide range of stock broking services, including institutional and retail share trading, share margin financing, inter-broking services, underwriting and placement, research and nominees and registration services.

“With 12 branches located nationwide, AIB has one of the largest branch networks among investment banks. Additionally, it will be able to tap into Alliance Banking Group’s broad customer base and branch network of 77 branches. All this adds to a holistic and synergistic approach to customer service and distribution of its innovative solutions, bringing AIB closer to the consumers”, added Lai.

About The Alliance Banking Group

The Alliance Banking Group, which comprises Alliance Bank Malaysia Berhad and Alliance Investment Bank Berhad, has had more than five decades of proud history in contributing to the financial community in Malaysia with its innovative and entrepreneurial business spirit. Since its inception the Bank has been an integral part of Malaysia’s history. Over the past 50 years the Bank has grown from strength to strength by observing the basic tenets of prudent financial management, an honourable approach to doing business and an unwavering innovative and entrepreneurial spirit.

Alliance Bank is a wholly-owned subsidiary of Malaysian Plantations Berhad as of 23 September 2002. Today, the Group employs over 3,700 people and has 77 bank branches and 12 stockbroking branches in Peninsular Malaysia, Sabah and Sarawak.