Standard Chartered PLC — Board/Management Information 2006

Nov 21, 2006

Standard Chartered

Standard Chartered PLC

(渣打集團有限公司)

(Registered in England and Wales number 966425)

(Stock Code: 2888)

DIRECTORATE CHANGES

Standard Chartered PLC announces the appointment of E Mervyn Davies as Non Executive Chairman and of Peter Sands as Group Chief Executive

The Board of Standard Chartered PLC (“Standard Chartered” or the “Group”) announces the appointment of Evan Mervyn Davies (age 53) as Non Executive Chairman with immediate effect and that Bryan Kaye Sanderson (age 66), Chairman since May 2003, is stepping down.

Mervyn Davies joined the Group in 1993 and was appointed to the Board in 1997. He has been Group Chief Executive of Standard Chartered PLC since November 2001. He will be succeeded by Peter Alexander Sands (age 44) who joined the Group in 2002 and is currently Group Finance Director and a Director of Standard Chartered PLC.

Richard Henry Meddings (age 48) will become Group Finance Director. Richard joined the Group in November 2002 and is currently Group Executive Director for governance across Africa, Middle East, Pakistan, Europe and the Americas and a Director of Standard Chartered PLC.

Mervyn Davies, Peter Sands and Richard Meddings have service contracts with a notice period of one year.

During Bryan's time as Chairman the Group has doubled in size and made significant strategic progress. The Board is appreciative of Bryan's valuable contribution.

It is intended that a Deputy Chairman will be appointed. Details of the appointee to that role and the other executive appointments will be made in due course.

As required by the UK Combined Code on Corporate Governance, these appointments have been discussed in advance with major shareholders. In reaching the decision to request Mervyn Davies to take up the role of Chairman the Board considered the complexity of the international banking environment in which the Group operates, the magnitude of the Group and the diversity of its businesses and people. The Board also considered the significant benefits of continuity as well as the leadership skills that Mervyn will bring to the role of Chairman. The Directors have unanimously approved these appointments.

Standard Chartered is trading in line with guidance given on 8 August 2006 and 29 September 2006. As already announced, a pre-close trading statement will be issued on 12 December 2006.

These appointments are subject to the usual regulatory approvals.

Bryan Sanderson said

“My priorities as Chairman were to improve shareholder value and to underpin the existing focus on governance in order to support a profitable future for Standard Chartered.

Nearly four years on, the share price has risen from £6.50 to around £15.00 and market capitalisation has nearly tripled. Our successful strategy, tightly focused on growth in our Asian, African and Middle Eastern heartland, has given the company new strength. Well-executed, selected acquisitions have further reinforced this position.

All of this has been accomplished by a talented team under the leadership of Mervyn Davies and Peter Sands. Morale is high and the overall mood very positive.

For me, this has been both enjoyable and gratifying but is taking more time and effort than I wish to give at this stage of my life. One of the main ingredients for success at Standard Chartered will be continuity of leadership. I have therefore decided to move on leaving an exciting forward agenda to Mervyn, Peter and a strong supportive team. We have engendered a unique position, full of opportunities in many markets, notably China and India, and I am confident that the best is still to come for Standard Chartered.”

Mervyn Davies said

“I would like to thank Bryan for his guidance. During the time we have worked together Standard Chartered has made great progress. I am delighted at the prospect of becoming Chairman of Standard Chartered. Standard Chartered has a clear strategy and is well positioned to take advantage of the many opportunities in our markets. I am looking forward to working with Peter Sands in his role as Group Chief Executive as Standard Chartered continues its journey to become the world's best international bank leading the way in Asia, Africa and Middle East.”

By order of the Board

Clive Burns

Group Company Secretary

Hong Kong, 20 November 2006

Additional Information required by the Hong Kong Listing Rules

None of these directors has any relationship with any other director, member of senior management or substantial or controlling shareholder of Standard Chartered.

The directors have the following interests in the ordinary shares of Standard Chartered as at 20 November 2006:

Director		Personal Interests	Family Interests	Totals
B K Sanderson	ordinary shares	217,116	16,159	233,275
	shares under option	303,902		303,902
E M Davies	ordinary shares	200,419		200,419
	total shares under option*	1,476,283		1,476,283
P A Sands	ordinary shares	30,641		30,641
	total shares under option*	968,194		968,194
R H Meddings	ordinary shares	109,852		109,852
	total shares under option*	363,207		363,207

• includes shares held in trust under the deferred bonus plan

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As outlined in the Annual Report and Accounts 2005 remuneration levels for Executive and Non Executive Directors are set with reference to FTSE 30 companies and the Group's international competitors. The Board Remuneration Committee aims to maintain competitive awards that reflect the international nature of the Group and enable it to attract and retain talented executives of the highest quality internationally. The Board Remuneration Committee continually reviews the remuneration policy against significant regulatory developments, market practice and shareholder expectations.

The revised details of the emoluments payable to these directors are being finalised by the Board Remuneration Committee who will take into account market practice and the Group's remuneration policy. Full details will be disclosed in the Annual Report and Accounts 2006.

The biographical information in respect of each of these directors complies with the disclosure requirements as set out in the Hong Kong Listing Rules. As such, no other details pursuant to these listing rules need to be disclosed. There are no matters that need to be brought to the attention of shareholders in respect of Bryan Sanderson stepping down as Chairman.

As of the date hereof the Board of Directors of Standard Chartered PLC comprises:

Non Executive Chairman:
Mr Evan Mervyn Davies, CBE

Executive Directors:
Mr Peter Alexander Sands; Mr Michael Bernard DeNoma; Mr Richard Henry Meddings; Mr Kaikhushru Shiavax Nargolwala; and

Independent Non-Executive Directors:
Mr Hugh Edward Norton; Sir CK Chow; Mr James Frederick Trevor Dundas; Ms Valerie Frances Gooding, CBE; Mr Rudolph Harold Peter Markham; Ms Ruth Markland; Mr Paul David Skinner; Mr Oliver Henry James Stocken and Lord Adair Turner

Other Directorships
Mr Mervyn Davies is a Non Executive Director of Tesco PLC and Non Executive Director of Tottenham Hotspur plc and is Chairman of the Appeal Fundraising Board of Breakthrough Breast Cancer.

Please also refer to the published version of this announcement in South China Morning Post.

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