66ZZ Morgan St. 30

RNS Number:2124P
Standard Bank of South Africa Ltd
03 March 2008


Standard Bank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
JSE Share code: SBK
NSX Share code: SNB
ISIN: ZAE000109815
("Standard Bank Group")

COMPLETION OF THE ACQUISITION OF A 20% SHAREHOLDING IN STANDARD BANK GROUP BY
THE INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

Further to the announcement released on the Securities Exchange News Service of
the JSE Limited on Thursday, 14 February 2008 and published in the press on
Friday, 15 February 2008, Standard Bank Group announces that the transaction in
terms of which the Industrial and Commercial Bank of China Limited ("ICBC") was
to acquire a 20% stake in Standard Bank Group ("the Transaction"), has been
completed.

In terms of the Transaction, Standard Bank Group issued to ICBC 152 505 805
ordinary shares at a price of R104.58 per share, for a total cash subscription
price of R15 949 057 087.

In terms of the Transaction ICBC also acquired a further 152 505 052 ordinary
shares from the shareholders of Standard Bank Group in terms of the scheme of
arrangement in terms of section 311 of the Companies Act, 1973, as amended,
proposed by ICBC, between Standard Bank Group and its ordinary shareholders ("
the Scheme").  In terms of the Scheme, ICBC paid a price of R136.00 per share
for a total consideration of R20 740 687 072.  Accordingly, ICBC now holds 20%
of the issued ordinary share capital in Standard Bank Group for an aggregate
investment of R36 689 744 159.

The Scheme having become operative, the scheme consideration was transferred or
posted today (as the case may be) and new share certificates were posted to
certificated scheme participants whose documents of title were surrendered to
the transfer secretaries prior to 12:00 on 29 February 2008.  The scheme
consideration has today also been credited to dematerialised scheme
participants' accounts held at their CSDPs or brokers, and their share balances
updated with respect thereto.

Certificated Standard Bank Group shareholders who have not yet surrendered their
share certificates are reminded to do so at their earliest convenience, using
the yellow form of surrender that was included in the scheme document and
circular to shareholders dated 16 November 2007.

Current share certificates bearing the old ISIN of ZAE000057378 may no longer be
dematerialised or rematerialised, and must first be surrendered and reissued
with the new ISIN of ZAE000109815.


Johannesburg
3 March 2008

Investment bank and joint sponsor to Standard Bank Group
Standard Bank

Legal advisers to Standard Bank Group
Bowman Gilfillan Inc

Financial adviser and lead sponsor to Standard Bank Group
Deutsche Securities (SA) (Proprietary) Limited

Sponsor to Standard Bank Group in Namibia
Simonis Storm Securities (Proprietary) Limited

Financial adviser to ICBC
Goldman Sachs International

Financial adviser to ICBC
ICEA Capital Limited

International legal advisers to ICBC
Linklaters LLP

South African legal advisers to ICBC
Webber Wentzel Bowens


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
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