As of DB2 9, it is possible to code and ORDER BY and FETCH first in a subquery, which can provide even more options for existence checking in subqueries.
SELECT DISTINCT SNAME FROM S, SP WHERE S.S# = SP.S# AND SP.P# = 'P2'
For singleton existence checks, you can code FETCH FIRST and ORDER BY clauses in a singleton SELECT. This practice could provide the best existence checking performance in a stand-alone query:
SELECT 1 INTO :hv-check FROM TABLE WHERE COL1 = :hv1 FETCH FIRST 1 ROW ONLY
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