On behalf of the Board of Directors of Maybank (“Board”), Maybank Investment Bank Berhad wishes to announce that AsianLife and General Assurance Corporation (“ALGA”), an indirect subsidiary of Maybank, had on 17 May 2012, entered into a share purchase agreement with STI Investments, Inc. for the disposal of 12,249,999,986 fully paid common shares of ALFA, representing approximately 70% of the total outstanding common shares of ALFA for a total consideration of Philippines Peso (“Php”) 428.4 million (or approximately RM31.02 million based on the prevailing exchange rate of RM1:Php13.81 as at 17 May 2012), which is approximately 1.5 times the book value of ALFA as at 31 December 2011.

In addition, on behalf of the Board, we wish to announce pursuant to Chapter 9, Paragraph 9.19(24) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, that the Disposal has been completed today and accordingly, ALFA has ceased to be an indirect subsidiary of Maybank.

ALFA is a licensed insurance company offering life insurance packages to businesses, families and individuals in Philippines. The Disposal would not have a limiting effect on ALGA’s insurance capability as ALGA itself has a composite insurance license.

The Disposal is not expected to have any material effect on the shareholdings, earnings, net assets and gearing of Maybank for the financial year ending 31 December 2012.

None of the directors and/or the major shareholders of Maybank and/or persons connected with them have any interest, direct or indirect in the Disposal.

This announcement is dated 31 May 2012.