Excellent year for Macquarie in Thailand, capped off by Macquarie Placement Agent to US$ 1.1 billion recapitalisation

TMB Bank has successfully completed its US$1.1 billion recapitalisation, with Macquarie Group serving a central role to this landmark transaction. The successful completion of the recapitalisation marks an excellent year for TMB Macquarie, having completed advisory and underwriting mandates for a convertible bond issue and an initial public offering earlier in the year at a combined offering of US$318 million. TMB Bank appointed Macquarie Securities (Asia) as its joint Placement Agent with TMB Macquarie Securities providing onshore support and coordination for this capital raising transaction aimed at strengthening TMB Bank’s capital adequacy and positioning it for future growth. Johnson Tan, Managing Director South - East Asia, said: “This US$1 billion recapitalisation is the largest undertaking of its kind in South-East Asia in 2007. Our appointment by our joint venture partner for a capital raising exercise of this size is a strong testament to the confidence they have in us.” “This is a great outcome for both TMB Bank and the Macquarie Group. It also marks a significant milestone in the continuing growth of the capital markets in Thailand.” The recapitalisation involved the issue of 13.1 billion new shares to strategic investor ING Group, 5.6 billion to the Ministry of Finance and the remaining 6.3 billion to other investors. Macquarie Securities (Asia) was instrumental in this complete recapitalisation for TMB Bank. TMB Bank was established in 1957 and completed a merger with DBS Thai Danu Bank and Industrial Finance Corporation of Thailand in September 2004, creating the fifth largest bank then. TMB Bank currently has more than five million deposit accounts, over 250,000 loan customers, 471 branches and a broad representation throughout Thailand. Mr. Tan said advising on the US$1.1 billion recapitalisation of TMB Bank capped off a fantastic year for Macquarie in Thailand. “This transaction follows on from the successful US$170m convertible bond issue by Thoresen Thai Agencies (TTA), a leading integrated freight carrier and the fourth largest transportation company in the Thai Exchange as well as the US$148m fund raising and initial public offering of Mermaid Maritime, a subsidiary of Thoresen Thai Agencies, which was listed on the Singapore Exchange in October 2007.“ Macquarie acted as joint lead manager and joint book runner for the convertible bond offering by Thoresen Thai Agencies (TTA). The US dollar denominated bond issue was the largest convertible bond issue out of Thailand in the last 10 years. In addition, it was only the second international convertible bond issue out of Thailand since the Asian financial crisis more than a decade ago and the only such issue at the time in the Asia-Pacific region since the credit market shakeout in August 2007. A month after the bond issue, Macquarie again successfully priced the initial public offering of Mermaid Maritime (Mermaid), an oil and gas services company, which was oversubscribed more than 20 times and priced at the top end of the range with strong immediate after-market performance. The IPO was marketed globally across Asia, United Kingdom, Europe and United States with Mermaid being only the third Thai company listed on the Singapore Exchange. Macquarie Group of companies acted as Sole Global Coordinator, Bookrunner and Underwriter, as well as Issue Manager for this successful transaction. For more information, please contact: Stephanie Batot / Sippakorn Pasuwan Tel: +66 2 231 8434 / Fax: +66 2 231 8121 Email: [email protected] / [email protected] For media queries, please contact: Fiona McDonald Tel: +65 6231 2827 / +65 9105 2628 Corporate Communications, Singapore Email: [email protected]

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