ALLIANCE MERCHANT BANK BERHAD CHANGES NAME TO ALLIANCE INVESTMENT BANK BERHAD

Kuala Lumpur, 16 August 2006 - Alliance Merchant Bank Berhad (AMBB) is now known as Alliance Investment Bank Berhad (AIB). The new name came into effect on 8 August 2006.

"The name change of AMBB to AIB marks another milestone in the merger of AMBB and Kuala Lumpur City Securities (KLCS) and the transformation process of AMBB to an investment bank, by end 2006. AIB will encompass AMBB's merchant banking business and the stockbroking business of KLCS, a wholly-owned subsidiary of AMBB. The merger will see KLCS' 12 branches being turned into AIB branches, giving AIB one of the largest branch network among investment banks. As an investment bank, AIB will also be able to tap into Alliance Banking Group's broad customer base and network of 77 branches," said Alliance Banking Group Chief Executive Officer, Bridget Lai.

Lai is optimistic that the new Investment Banking (IB) structure will strengthen AIB's competitive edge, particularly in terms of capitalising on its end-to-end investment banking servicing capabilities - from origination to execution to distribution. In addition, the research team at KLCS will be able to add to the IB value proposition with quality and professional expertise in stock broking, equity-related services and in-depth research support to Alliance Banking Group clients.

"Upon completion of the merger of the merchant bank and stockbroking units, AIB will have the competitive edge to harness investment banking opportunities within the market. This enhances our holistic and synergistic approach to customer service and distribution of our innovative solutions, bringing ourselves closer to our customers", added Lai.

As a full fledged investment bank, Alliance Investment Bank and its subsidiaries will offer a complete suite of financial products and solutions and investment banking services, ranging from corporate finance, debt capital market, equity capital market to asset and fund management, corporate banking, 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.

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. The Group 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. Today, Alliance Bank employs over 3,200 people and has 77 branches in Peninsular Malaysia, Sabah and Sarawak.