Prebon Chairman to retire

Prebon Yamane has announced the imminent retirement of John Ng, Chairman of Prebon Yamane (Singapore) Limited, after 29 years with the company.

Ng joined Prebon Yamane, previously known as Charles Fulton, in early 1974. His career with Prebon has been predominantly in foreign exchange where he was a director of the foreign exchange division prior to being made deputy managing director in 1994. As one of the pioneers of Prebon in Asia, Ng was also instrumental in much of the early work in evaluating business opportunities in emerging markets such as Thailand, Vietnam and India and Prebon's joint venture in Kuala Lumpur.

For the past fifteen years, Ng has been a member of the Prebon Yamane Asia Pacific Executive Committee and has been serving on the Board of Prebon Yamane (Singapore), more recently as chairman of the board. He has also been a director of Prebon's joint venture Fulton Prebon (Malaysia) Sdn Bhd for the past nine years and a director of Prebon Energy (Singapore) Pte Limited. In addition to this, Ng has been active in the Singapore finance market serving on various sub-committees as a member of the Singapore Foreign Exchange Market Committee.

"As the longest-serving member of Prebon in the Asia Pacific region, John's contribution to the growth of our Singapore operations has been substantial. On behalf of the company, we thank him for this contribution as well as the insight and perspective that he has shared with many of us" said Craig Bannister, managing director, Prebon Yamane (Singapore) Limited.

Ng will step down from his role as Chairman on the 30^th June 2003.