09:35     STANCHART<02888> - Announcement & Resumption of Trading (6)         

    The directors of Standard Chartered expect, based on an analysis          
    of management information, that for the year ended 31 December            
    2004 profit before tax will be not less than US$2,100 million.            
    This figure includes a number of one-off items which together             
    generated a profit of US$85 million before tax. The directors             
    also expect that total revenue for the year ended 31 December             
    2004 will be approximately US$5,340 million.                              
                                                                              
    GENERAL                                                                   
                                                                              
    Trading in the shares of Standard Chartered on the Hong Kong              
    Stock Exchange was suspended at the request of Standard Chartered         
    from 9.30am (Hong Kong time) on 10 January 2005, pending the              
    release of this announcement. Application has been made to the            
    Hong Kong Stock Exchange for the resumption of trading in the             
    shares of Standard Chartered from 9.30 a.m. (Hong Kong time)              
    on 11 January 2005.                                                       
                                                                              
    UBS Investment Bank is acting as financial adviser to Standard            
    Chartered in connection with the acquisition. Standard Chartered          
    has also received financial advice from Cazenove & Co. Ltd.               
    Cazenove & Co. Ltd and UBS Limited are acting as joint lead               
    managers and joint brokers to the Placing. Cazenove & Co. Ltd             
    and UBS Limited, both of which are regulated in the United Kingdom        
    by The Financial Services Authority, are acting exclusively for           
    Standard Chartered and no one else in connection with the                 
    proposed acquisition and the Placing and will not be responsible          
    to anyone other than Standard Chartered for providing the                 
    protections afforded to customers of Cazenove & Co. Ltd or UBS            
    Limited, or for giving advice in relation to the Placing or any           
    other matters referred to in this press announcement                      
                                                                              
    Bryan Sanderson, Chairman of Standard Chartered said:                     
                                                                              
    "The heart of our strategy is to create value for our shareholders,       
    particularly in Asia. We have highlighted Korea as one of a number        
    of key markets in which we want to build a larger presence. It            
    is the third largest banking market in Asia and offers                    
    outstanding opportunities to create substantial value for our             
    shareholders"                                                             
                                                                              
    Mervyn Davies, Group Chief Executive of Standard Chartered said:          
                                                                              
    "I am delighted we have reached an agreement to acquire Korea             
    First Bank. It is a major move forward for the Group. This is             
    a well managed, conservatively run bank with a highly skilled             
    workforce. This is a significant acquisition in a key growth              
    market. It is a big step towards our aspiration to lead the way           
    in Asia, Africa and the Middle East."                                     
                                                                              
    By order of the Board                                                     
    David J Brimacombe                                                        
    Company Secretary                                                         
                                                                              
    Hong Kong, 10 January 2005                                                
                                                                              
    As of the date hereof, the Board of Directors of Standard                 
    Chartered comprises:                                                      
                                                                              
    Executive Directors - Mr. Bryan Kaye Sanderson, CBE; Mr. Evan             
    Mervyn Davies, CBE; Mr. Michael Bernard DeNoma; Mr. Christopher           
    Avedis Keljik; Mr. Richard Henry Meddings; Mr. Kaikhushru                 
    Shiavax Nargolwala; Mr. Peter Alexander Sands; and                        
                                                                              
    Independent Non-Executive Directors - Sir CK Chow; Mr. James              
    Frederick Trevor Dundas; Ms. Valerie Frances Gooding; Mr. Ho              
    Kwon Ping; Mr. Rudolph Harold Peter