This move is expected to significantly reinforce the leadership position of both Maybank and American Express and to provide increased strategic advantages when tapping the vast potential of the credit card market in Malaysia.

Under the agreement, Maybank will issue the American Express-branded Classic and Gold credit cards, which will be accepted by the millions of merchants operating on the American Express global merchant network in over 200 countries and territories. Maybank will be responsible for all operations supporting the issuing of the new credit cards, including billing and accounting, customer service, credit management and charge authorizations, as well as marketing the cards in Malaysia.

“For Maybank, the alliance with a prestigious global brand such as American Express is in line with our ongoing commitment to provide enhanced card payment facilities and flexibility to our customers,” said Datuk Amirsham A Aziz, President and CEO of Maybank. “This partnership underscores our overall emphasis in promoting our card products as a relationship card and an important tool for payment convenience and flexibility in keeping with today’s lifestyle.”

“The new Maybank American Express Credit Card is the first credit card in Malaysia printed on reflective material giving it a distinct and modern look for greater customer affinity,” added Datuk Amirsham. “It is also the first credit card in Maybank’s portfolio of cards to carry the ‘Maybankard’ branding, which is part of our strategic initiative to streamline our stable of card products.”

“We are excited by this opportunity to partner with one of the most respected and largest banks in Malaysia and to help increase the reach of the American Express brand among Malaysians,” said Kula Kulendran, American Express vice president and head of Global Network Services for Asia-Pacific and Australia.

“Through this new strategic alliance with Maybank, we are able to match the global strengths and worldwide service of American Express with the strong customer relationships of a local partner, thereby offering customers the best of both worlds,” added Kulendran. “The Malaysian consumers will be the ultimate winners of this partnership.”

In conjunction with the launch, the Maybank American Express Cardmembers will enjoy many benefits and offers including: a waiver of annual fees for the first year; a special introductory interest rate; an attractive tiered Balance Transfer plan offering 0% interest for three months with minimum amount of RM1,000; and 0.5% interest for 6 months with minimum amount of RM3,000. New Cardmembers who use their cards from December 3, 2003 to March 31, 2004 at restaurants and hotels will receive double bonus points under Maybank’s GiftPoints Rewards Programme.

Upon activation of the cards, Cardmembers will be entitled to dining and travel offers and discounts at designated merchants. To welcome new Cardmembers, Maybank is holding a contest from December 3, 2003 through March 31, 2004 that will offer a weekly Grand Prize for fifteen winners including: a choice of adventure and lifestyle holidays to exotic travel destinations such as Egypt, New Zealand, Seychelles or South Africa; the exciting experience of watching F1 live in Monaco; or relaxing in Ibiza, Spain. Also included in the offers are high-tech electronics equipment, plasma screen televisions and jewelry items.

With the Maybank American Express Credit Card, cardmembers will have access to American Express’ exclusive “Membership Privileges” program for the best value in retail stores, hotels and restaurants across the Asia-Pacific region. The card also offers an array of distinctive value-added travel benefits: travel assistance at over 1,700 American Express Travel Service Offices in over 130 countries; access to more than 550,000 ATMs around the world; Emergency Card Replacement with limited loss liability; and Gold Assist, a comprehensive assistance and online travel planning resource for all Gold Cardmembers. Cardmembers can also enjoy the hassle-free conveniences of bill payments using the auto-debit facility or online bill payments, in addition to e-commerce facilities at Maybank’s Internet banking portal Maybank2u.com.sg.

“The card features, as well as the various programs and benefits we are offering, reflect our commitment to providing only the best to our cardmembers and to complementing their lifestyles,” added Datuk Amirsham.

About Maybank Group
The Maybank Group offers a comprehensive suite of financial solutions, services and products ranging from commercial banking, investment banking, offshore banking, leasing and hire purchase. It also offers insurance, trustee services, asset management, brokerage services, discount-house business, unit trust fund management, venture capital and auto finance services.

Maybank has the largest service network in Malaysia, which is complemented by branches in key international financial centers worldwide. In Malaysia alone, the Group has over 420 branches and over 1000 Automated Teller Machines (ATMs). Maybank has 22 branches in Singapore, three branches in Brunei, one each in Hong Kong, London, New York, Bahrain, Phnom Penh, Hanoi and Shanghai, as well as representative offices in Beijing and Ho Chi Minh City. It has commercial banking subsidiaries in Papua New Guinea (with branches in Port Moresby and Lae), Philippines (45 branches) and Indonesia (1 branch in Jakarta).

As the largest financial services group in Malaysia, Maybank continuously enhances and leverages group synergy as well as technology to adapt to the changing needs of its clients and the environment, to provide high value, seamless financial services and solutions, as well as banking convenience to its customers.

About American Express
American Express Company is a diversified worldwide financial, network and travel services provider founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, financial planning, travel, investment products, insurance and international banking. Since 1996, the Company has been aggressively pursuing a strategy of opening its merchant network and card product portfolio to other card issuers around the world as a major growth initiative for the global card giant. By leveraging its global infrastructure and the powerful appeal of the American Express brand, the company aims to become the premier global network and gain wider reach to customers worldwide. In the last several years Global Network Services (GNS) has developed close to 80 card-issuing relationships in more than 80 countries. In Asia alone, GNS has established 21 such alliances in 13 markets, allowing the company to successfully build its business in the region.