| HSBC AWARDS SCHOLARSHIPS TO 32 LOCAL UNDERGRADUATES 
22 August 2006 HSBC Bank Malaysia Berhad today awarded scholarships totaling RM532,000 to 32 undergraduates pursuing 3 year degree courses at local universities and colleges as part of its HSBC In Education initiative.This year marks the fifth year of HSBC scholarships for tertiary students, and the Bank has since awarded a total of 144 scholarships amounting to RM2.860 million to deserving Malaysian students. The HSBC Scholarship Award aims to assist students from low-income backgrounds from all over the country to undertake further studies in both local public and private universities and colleges. "HSBC prides itself as an organization that places great emphasis on the importance of education in our community. It is also a key focus area in our Corporate Social Responsibility (CSR) initiatives. As part of our commitment to the local community in Malaysia, HSBC's Scholarship Awards aims to provide an opportunity for under-privileged youths to pursue their dream in higher education," said Ian Ogilvie, Executive Director and Chief Executive, HSBC Bank Malaysia.He also added that the selection panel was very impressed by the great fortitude and determination of the applicants to pursue their tertiary education in order to attain the ambition of their choice. Many of the applicants exhibited tremendous courage, focus and moral strength beyond their years and remained cheerful despite the adverse circumstances. The panel also found that the applicants not only excelled academically, but, have strong personal and family values, the building blocks of a successful society. Scholarships were awarded to 28 undergraduate students in various courses in local universities and colleges totaling RM448,000. Four (4) scholarships amounting to RM84,000 were also awarded to the children of HSBC Malaysia's employees. "We believe in giving back to the community that has played and continues to play a big part in HSBC's success. I hope and trust that the HSBC scholarship awards will help ease the burden for some families and that their children can work towards building a better and more secure future for themselves and their family," said Ogilvie. The HSBC Scholarship Awards is one of the many initiatives undertaken by the bank in the area of education. Amongst others, HSBC is involved in the Language in Literature (LILT) programme with British Council and Students in Free Enterprise (SIFE). Recently, the bank also announced its 2006 HSBC Young Entrepreneur winners. HSBC Malaysia works closely with educational schools and institutions to ensure that students are the ones who benefit most from our education programmes. | 
