ALLIANCE INVESTMENT BANK ANNOUNCES NAME CHANGE FOR RESEARCH ARM

Kuala Lumpur City Research to be known as Alliance Research

Kuala Lumpur, August 22, 2006 -- Kuala Lumpur City Research, a wholly-owned subsidiary of Alliance Investment Bank Berhad (AIB), is now known as Alliance Research. The name change takes immediate effect.

With the name change, Alliance Research is well placed to leverage on the Alliance Banking Group name while presenting a single and integrated brand identity to the Group’s clientele. The exercise also forms part of AIB’s transformation process that will end in the complete merger of AIB with its wholly-owned stockbroking unit, Kuala Lumpur City Securities (KLCS) by end 2006.

“Knowledge-based insights and research have always been an integral part of Alliance Banking Group’s strategic focus. Research-based information is even more crucial for the competitive investment banking industry.

“The name change reflects the emphasis the Group is placing on research in bringing value-added service to our clients. AIB’s commitment to research is underscored by the engagement of a strong research team that will provide fundamental and technical analysis to suit the customised needs of retail, corporate and institutional clients,” said Bridget Lai, Alliance Banking Group’s Chief Executive Officer.

Lai added : “The Alliance Research team will enhance AIB’s value proposition in bringing knowledge-based insights and in-depth research support to our clients and enhance the investment bank’s ability to meet the challenges of the industry.

Group Head Research Wong Chee Seng, who was appointed to his position in July 2006, will head Alliance Research.

Backed by a team of seven analysts, Wong will spearhead and strengthen Alliance Research’s research capabilities, in line with Alliance Banking Group’s overall thrust of providing customers value-added services based on knowledge-driven information.

Wong also has in-depth regional experience working with major private and government financial institutions, as well as in-depth comprehension of international and regional macro economics. His deep and broad understanding of economic issues makes him a sought-after figure by those seeking insights into various current topics.

About Alliance Investment Bank

Alliance Investment Bank (AIB) encompasses the merchant banking and stockbroking businesses of the Alliance Banking Group. With 12 branches located nationwide, AIB has one of the largest branch networks among investment banks.

As a full-fledged investment bank, AIB offers 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.

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 44 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, Alliance Bank employs over 3,700 people and has 77 branches in Peninsular Malaysia, Sabah and Sarawak.