Reference is made to the announcements dated 29 September 2010, 21 February 2011, 22 March 2011 and 29 March 2011 in relation to the DRP.

At the annual general meeting (“AGM”) on 29 September 2010, the shareholders of Maybank approved, inter alia, the allotment and issuance of new Maybank Shares arising from the DRP until the conclusion of the next AGM upon such terms and conditions to or with such persons as the Board of Directors of Maybank (“Board”) may, in its absolute discretion, deem fit and in the interest of Maybank.

On 21 February 2011, the Board announced the quarterly report on consolidated results for the financial period ended 31 December 2010, and declared an interim cash dividend in respect of the financial year ending 30 June 2011 of RM0.28 less 25% taxation per ordinary share of RM1.00 each in Maybank (“Maybank Share”) (“Interim Cash Dividend”). The Board have also determined that the DRP will apply to the Interim Cash Dividend in which an electable portion of RM0.24 (RM0.18 net of taxation) per Maybank Share held (“Electable Portion”) can be elected to be reinvested in new Maybank Shares and the remaining portion of RM0.04 (RM0.03 net of taxation) will be paid in cash.

On behalf of the Board, Maybank Investment Bank Berhad (“Maybank IB”) wishes to announce that the issue price of new Maybank Shares to be issued pursuant to the DRP applicable to the Interim Cash Dividend has been fixed today (“Price Fixing Date”) at RM7.70 per new Maybank Share. The issue price is based on the five (5)-day volume weighted average market price (“VWAMP”) of RM8.80 per Maybank Share up to and including 30 March 2011, being the last trading day prior to the Price Fixing Date for the issue price of new Maybank Shares after adjusting for the following:

(i)             a gross dividend adjustment of RM0.28 to the five (5)-day VWAMP (“Ex-Dividend VWAMP”); and

(ii)            a discount of RM0.82 which is approximately 9.6% discount to the Ex-Dividend VWAMP of RM8.52.

On behalf of the Board, Maybank IB will also announce on even date that the book closure date pursuant to the Interim Cash Dividend and DRP has been fixed for 14 April 2011.

Barring any unforeseen circumstances, the new Maybank Shares arising from the DRP will be listed on the Main Market of Bursa Malaysia Securities Berhad on 13 May 2011.

This announcement is dated 31 March 2011.