Hong Kong Ordinances

DAO HENG BANK LIMITED (MERGER) ORDINANCE - PREAMBLE

Preamble

WHEREAS-

        (a)	Dao Heng Bank Limited (道亨銀行有限公司) (hereinafter called "Dao Heng 
Bank") is a company incorporated under the laws of Hong Kong having its
registered office in Hong Kong and is a bank licensed under the Banking 
Ordinance ( Cap 155) carrying on the business of banking in Hong Kong and
elsewhere;

        (b)	DBS Kwong On Bank Limited DBS 廣安銀行有限公司 (hereinafter called "DBS 
Kwong On Bank") is a company incorporated under the laws of Hong Kong having
its registered office in Hong Kong and is a bank licensed under the
Banking Ordinance ( Cap 155) carrying on the business of banking in Hong Kong;

   (c)  Overseas Trust Bank, Limited (海外信託銀行有限公司)
        (hereinafter called

"Overseas Trust Bank") is a company incorporated under the laws of Hong Kong
having its registered office in Hong Kong and is a bank licensed under the
Banking Ordinance ( Cap 155) carrying on the business of banking in Hong Kong;

   (d)  Dao Heng Bank, DBS Kwong On Bank and Overseas Trust Bank are members
        of the DBS Group;

   (e)  for the better conduct of the businesses of the DBS Group, it is
        expedient that the respective undertakings of Dao Heng Bank,
        DBS Kwong  On Bank and Overseas Trust Bank be merged and that such
        merger should occur by means of a transfer of the undertakings of
        DBS Kwong On Bank and Overseas Trust Bank to Dao Heng Bank; and

   (f)  in view of the extent of the contractual and other legal relationships
        affecting the conduct of the undertakings of DBS Kwong On  Bank and
        Overseas Trust Bank, it is expedient that the said undertakings be
        transferred to Dao Heng Bank by this Ordinance without interference
        with the conduct and continuity of the respective businesses of
        Dao Heng  Bank, DBS Kwong On Bank and Overseas Trust Bank.