UOB - BUY calls from various research houses

Date/Research House/Stock/Last Done/Target Price/Valuation Method

01/07/10 phillip UOB 19.9 23 Buy NAV2x

01/07/10 CIMB UOB 19.9 23.32 Outperform PB1.96x

01/07/10 Kim Eng UOB 19.9 23 Buy

01/07/10 AmFraser UOB 19.9 23.77 Buy Gordon Growth Model

02/02/10 CIMB UOB 18.24 23.32 Outperform

02/04/10 DBS Vickers UOB 18.54 21.2 Buy

02/27/10 DMG & Partners UOB 18.64 22.3 Buy PB1.9x

03/01/10 Kim Eng UOB 18.64 21.8 Buy PB1.8x

03/01/10 DBS Vickers UOB 18.64 21.2 Buy Gordon Growth Model

03/01/10 phillip UOB 18.64 23 Buy Gordon Growth Model, PB1.94x

03/01/10 AmFraser UOB 18.64 23.95 Buy Gordon Growth Model

03/04/10 DBS Vickers UOB 18.2 21.2 Buy

03/08/10 Kim Eng UOB 17.86 21.8 Buy PB1.8x

04/01/10 DMG & Partners UOB 19.44 22.3 Buy

04/08/10 DBS Vickers UOB 19.8 22.2 Buy BV1.8x

04/15/10 DBS Vickers UOB 20.88 22.2 Buy PB1.8x

04/19/10 CIMB UOB 20.46 23.32 Outperform

04/30/10 CIMB UOB 20.16 23.32 Outperform

05/03/10 DBS Vickers UOB 20.32 22.2 Buy PB1.8x

05/03/10 phillip UOB 20.32 23 Buy Gordon Growth Model