Press Release Nikko AM Asia appoints new President

Press ReleaseOctober 17, 2011Nikko Asset Management Co., Ltd.Nikko AM Asia appoints new PresidentSingapore: Nikko Asset Management Group (“Nikko AM”), the largest regional assetmanager headquartered in Asia, is pleased to announce the appointment of EleanorSeet as President and Executive Director of Nikko Asset Management Asia Limited(“Nikko AM Asia”) 1 to lead the firm in the next phase of its growth plan. Her appointmentis effective immediately.Ms Seet will be responsible for driving the growth of Nikko AM in Singapore andSoutheast Asia. Ms Seet has spent her entire career in the asset management industryand has a strong background in the sales and marketing of investment products. Prior tojoining Nikko AM Asia, Ms Seet held the role of Senior Director for iShares, PrivateWealth Distribution, Asia ex-Japan from June 2009. Previously, she spent 12 years atAllianceBernstein, where she was responsible for building and developing the firm’sdistribution channels and business.Ms Seet commented: “It is a tremendous opportunity to join Nikko AM at this excitingtime when Southeast Asia’s growing middle classes increasingly seek investmentsolutions. Nikko AM’s leadership team is comprised of industry veterans who are clearlypassionate and committed to delivering these solutions to grow the region’s wealth.”Blair Pickerell, Nikko AM’s Head of Asia commented: “We are pleased to welcomeEleanor aboard. She has a particularly strong background in working with investmentintermediaries in the region, and under her leadership, I believe we will see significantgrowth in our business in the region.”1 Nikko AM Asia comprises the integrated operations of two Singapore-based asset managersformerly known as DBS Asset Management Ltd and Nikko Asset Management Singapore Limited.DBS Asset Management Ltd was acquired by Nikko AM from DBS Bank Ltd on September 30,2011.1

Ms Seet replaces Deborah Ho, who has served as Chief Executive Officer of DBS AssetManagement Ltd (“DBSAM”) for the past four years.Commenting on Ms Ho’s departure, Mr Pickerell said: “Deborah has played animportant role in the development of DBSAM in recent years and was instrumental inbringing together Nikko AM and DBSAM. We would like to thank her for her leadershipof DBSAM and wish her well.”Nikko AM Asia has also appointed two other industry veterans to support the growth ofthe firm.Teck Keng Neo has been appointed as Head of Middle and Back Office at Nikko AMAsia. In this role, he will oversee Nikko AM Asia’s Operations, Fund Accounting, Finance,Information Technology, Middle Office and Administrative functions. He will transfer toSingapore from his role as Head of Operations and Disclosure Division at Nikko AM’sTokyo headquarters. Prior to joining Nikko AM in 2005, he spent 11 years at FidelityInvestments Japan Limited, where he oversaw the operational processes and ITsystems.Rodney Lim has been appointed as Head of Compliance at Nikko AM Asia. He joinsfrom UBS Global Asset Management, where he was responsible for compliance. Prior tojoining UBS, he worked at Citi Global Wealth Management and PriceWaterhouseCoopers.About Nikko AM###Nikko Asset Management Group (“Nikko AM”) is the largest regional asset management companyheadquartered in Asia. With the addition of DBSAM, Nikko AM’s total assets under managementis over US$165 billion.Established in 1959 and with its head office in Tokyo, Nikko AM is one of the largest assetmanagement companies in Japan, with its investment products sold by over 200 distributors. Thecompany also has offices in London, New York, Singapore, Hong Kong, Sydney, Melbourne,Brisbane and Auckland. Nikko AM holds a 40% stake in Rongtong Fund Management Co., Ltd, ajoint venture investment management company in China.2

Nikko AM offers retail and institutional investors access to a wide range of investment strategiesin equities, fixed income and alternative asset classes, in both developed and emerging markets.The company adopts a “multi-local” approach, giving local management teams a high degree ofautonomy to address market conditions and client servicing needs, which the company believescan vary widely from market to market.Nikko AM’s stable management team has significant Asian as well as global expertise, which hasbeen instrumental in achieving growth across the business. In recent years, Nikko AM has beenrecognized by industry peers for its innovative investment products and has won a number ofprestigious awards, including the Lipper Best Fund Award in 2010 in the Equity Asia Pacific Ex-Japan Category over 3 years, and the Global Investor Award for Investment Excellence inJapanese Equities.Nikko AM is majority-owned by The Sumitomo Trust and Banking Co., Ltd., while DBS Bank Ltd isthe second largest shareholder. Employees also own a stake in the company.Nikko AM continues to operate independently. For more information, please visithttp://en.nikkoam.com.For inquiries, please contact:END###Singapore (contact details will be updated in a few weeks)Sue-Lyn Yeoh, Vice President, Marketing/Corporate CommunicationsTel: +65-6878-3447; Mobile: +65 9757-3924Email: suelyn@dbs.comTokyoCorporate CommunicationsKyoko Wada, Megumi Yoshizawa, Naho YohdaTel. +81-3-6447-6117, +81-3-6447-6571, +81-3-6447-6712Email: corpcom@nikkoam.comInternationalJo Nhan, Marketing Communications ManagerTel: +852-3940-3939Email: Jo.Nhan@nikkoam.com3