ALLIANCE OPENS NEW FLAGSHIP BRANCH IN PENANG

Flagship branch at Beach Street offers full suite of services including Privilege Banking Centre, Business Centre and Corporate Banking section

Penang, 25 June 2007 - Alliance Bank is strengthening its branch footprint in the Northern region with the opening of its flagship branch at 21, Beach Street, Penang.

Located on the island's main financial district, the Beach Street branch will house the first Alliance Bank Privilege Banking Centre and Business Centre in Penang, a move that signals the state's growing importance as a business and high net worth centre for the Bank.

Speaking at the branch opening, Alliance Banking Group Chief Executive Officer Datuk Bridget Lai said "Penangites are long recognised as one of the most enterprising communities in the country. The island has thrived on the entrepreneurial spirit of its people through the ages. Penang, today, is one of the most established industrialised states in Malaysia with a thriving community of small- and medium-sized entrepreneurs. It is a business location of choice for many local and global enterprises".

Given Alliance Bank's long association with Penang, Lai is confident that Alliance Bank will be able to further extend its contribution to the island's continued growth by catering to the banking needs of its communities and businesses.

Alliance Bank Beach Street branch offers a complete range of banking facilities including a 24-hour e-Banking lobby and a customer sales and service lounge. SMEs will also have access to a dedicated Alliance Business Centre with qualified financial advisers ready to offer practical financial advice and expertise. Complementing the Business Centre is a dedicated Corporate Banking section set up to serve the needs of corporate banking clients.

Aesthetically, Alliance Bank Beach Street branch boasts of a bold, modern exterior that is complemented by an interior designed to offer customers a pleasant banking experience. The contemporary look and feel is part of Alliance Bank's ongoing branch re-branding efforts aimed at offering personalized banking services to customers in a cosy and comfortable setting.

"Alliance Bank believes that banking should be a personal experience. As such, our approach to banking is very much relationship and community based. While the overall design of the branch is modern and dynamic, like the people of Penang, it is also warm and welcoming. We want the look and design of our branches to reflect our commitment towards the community and the value we place on them.

"As an integrated financial solutions provider, Alliance Bank wants to build long-term synergistic relationships with all our customers, catering to their specific needs at different stages of their personal and business life cycle. One of the most effective ways to do this is via our branches, our first line of contact with our customers and the community," added Lai.

Alliance Bank currently has seven branches in the northern region of Malaysia. Plans are underway to expand its footprint, using its branch network as a key distribution channel for the Bank's Consumer and Commercial Banking businesses.

-The End-

About Alliance Banking Group

Alliance Banking Group is a dynamic, integrated financial services group offering end-to-end financing solutions through it consumer banking, commercial banking, wholesale banking, Islamic banking, investment banking and stock broking businesses as well as unit trust and asset management, providing products and services that are suited for every customer at every stage of their life.

The Group has had five decades of proud history in contributing to the financial community in Malaysia with its innovative and entrepreneurial business spirit. It provides easy access throughout the country serving its broad base of customers via multi-pronged delivery channels including 79 retail branches, 10 Privilege Banking Centres, 19 Hire Purchase hubs, 23 Business Centres, 12 Investment Bank branches, 6 direct marketing offices and 3 unit trust agent offices located nationwide in a mix of rural and urban areas.

Through strategic partnerships, the Alliance Banking Group is also able to offer customers to regional and global platforms.

The Group's aspiration is to be Malaysia's premier integrated financial services group delivering the best customer experience and creating long term shareholder value. Strategic alliances, enhanced group synergy, excellent technology and human capital will be the key to creating long term value for all stakeholders.

Alliance Bank is wholly-owned subsidiary of Malaysian Plantations Berhad.