Standard Chartered PLC — Board/Management Information 2008

Apr 22, 2008

Standard Chartered

STANDARD CHARTERED PLC

(渣打集團有限公司)

(Registered in England and Wales number 966425)

(Stock Code: 02888)

Standard Chartered Board Changes

Standard Chartered PLC to appoint Steve Bertamini as Group Executive Director

The Board of Directors of Standard Chartered PLC ("Standard Chartered", the "Company" or the "Group") announces the appointment of Stefano Paolo Bertamini ("Steve"), age 43, as Group Executive Director with effect from 1 June 2008, and that Michael Bernard DeNoma ("Mike"), Group Executive Director since 2000, is stepping down to pursue other career opportunities.

Mr DeNoma, 52, will step down from the Board from 1 June 2008. He steps down after a long and distinguished career with Standard Chartered having joined the Company in 1999 as Group Head of Consumer Banking. He became a Director in May 2000 and is also responsible for the Group Strategy function.

Mr Bertamini, 43, has been appointed as Chief Executive Officer, Consumer Banking with effect from 19 May 2008. He will report directly to Peter Sands, Group Chief Executive, and will be based in Singapore. Steve will be appointed as Group Executive Director and will join the Board with effect from 1 June 2008. This appointment is subject to regulatory approval.

Steve joins Standard Chartered from GE where he spent 22 years, most recently as Chairman and CEO of GE North East Asia, with responsibility for Greater China, Korea, and Mongolia. He was also responsible for GE's acquisition and merger business in the Asia-Pacific region from 2004 and President of GE Capital Asia since January 2001. Prior to that, Steve was Chief Executive Officer of GE Australia and New Zealand. He led the establishment of GE's Consumer Finance business in Asia in 1993 and was its Managing Director from 1994 to 1998.

Additionally, Group Strategy will report directly to Peter Sands with immediate effect.

As is its usual practice, Standard Chartered will give a trading update at its Annual General Meeting on 7 May 2008.

Mervyn Davies, Chairman of Standard Chartered PLC, said "Mike has been a highly valued member of the Board for the past eight years during which time the Bank has grown significantly. Mike has done an exceptional job. He has been a pleasure to work with both during my time as Chairman and previously as CEO. We wish him every success in the future.

"I am very pleased that Steve will be joining the Board as Group Executive Director of Standard Chartered PLC. He brings a wealth of experience from and strategic insight into the markets in Asia, and will be a great addition to the Board."

Peter Sands, Group Chief Executive of Standard Chartered PLC, said "Under Mike's leadership our Consumer Banking business has been transformed, delivering significant shareholder value from the growth of Wealth Management and SME, whilst building our franchise in markets such as Korea, China, Pakistan and Taiwan.

"I would like to also thank Mike for his contribution to the success of the Group over the recent years. He has been a true champion of the Standard Chartered brand and values as well as our ambassador for the Greatest Race on Earth marathon series. I wish him well for the future.

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"I am delighted to welcome Steve to the Bank. Steve has outstanding leadership capability and a proven track record in building successful retail businesses and franchises in our key markets. I am confident that under his leadership, we will achieve our aspirations for the Consumer Banking business."

Mike DeNoma, Group Executive Director, said, "The Consumer Banking business has transformed - it's a great business with a great team. Now is the right time for me to end this chapter in my career and to move on to new adventures closing what has been a wonderful near-decade with the Bank."

The appointment of Steve Bertamini as an Executive Director of Standard Chartered PLC (the "Company") will become effective on 1 June 2008 (subject to regulatory approval). The key terms of his service agreement with Standard Chartered Bank are set out below and are disclosed in accordance with the rules of the Hong Kong Stock Exchange.

Steve's annual base salary will be USD900,000. He will be eligible to participate in the Company's discretionary Annual Bonus Plan and the Performance Share Plan. Steve will also receive a pension entitlement as well as standard core benefits such as medical cover and life assurance.

Steve will be granted an award under the Company's Performance Share Plan over shares equal in value to 150 per cent of base salary.

In recognition of the substantial elements of deferred compensation and share awards which have been forfeited when leaving his existing employer, Steve is being awarded a one-off deferred share award of USD2.0m and a deferred cash payment of up to USD6.5m, which will vest in tranches through to May 2014.

The service agreement is similar to other Group Executive Directors in that it has provisions including a normal 12 month notice period and, in the event of termination, phased payment of any notice entitlement, with a duty to mitigate the loss.

Steve has no beneficial interest in the Company's shares under the meaning of Part XV of the Hong Kong Securities and Futures Ordinance.

There is no other information to be disclosed pursuant to any of the requirements under Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong. Mr DeNoma has confirmed that there is nothing which needs to be brought to the attention of the holders of securities of Standard Chartered PLC in respect of his resignation.

By order of the Board

Annemarie Durbin

Group Company Secretary

Hong Kong, 22 April 2008

As at the date of this announcement, the Board of Directors of the Company comprises:

Chairman:

Mr Evan Mervyn Davies, CBE

Executive Directors:

Mr Peter Alexander Sands; Mr Gareth Richard Bullock; Mr Michael Bernard DeNoma; and Mr Richard Henry Meddings.

Independent Non-Executive Directors:

Mr John Wilfred Peace; Sir CK Chow; Mr James Frederick Trevor Dundas; Ms Valerie Frances Gooding, CBE; Mr Rudolph Harold Peter Markham; Ms Ruth Markland; Mr Sunil Bharti Mittal; Mr Paul David Skinner; Mr Oliver Henry James Stocken and Lord Adair Turner.

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For further information please contact:

Ashia Razzaq
Head of Investor Relations
Asia Pacific
+852 2820 3958

Gabriel Kwan
Head of Media and Government Relations
Corporate Affairs, Hong Kong
+852 2820 3036

Notes to editors

Mike DeNoma joined Standard Chartered in July 1999 and was appointed to the Board of Standard Chartered PLC, as a Group Executive Director, in May 2000. Mike is responsible for the Group's Consumer Banking business worldwide and leads the Group's Strategy function. He is based in Singapore.

Prior to joining Standard Chartered, Mike was the founder and CEO of Asia Foods Limited (in the People's Republic of China), the Chief Operating/Marketing Officer at Hutchinson Whampoa and Citibank's Senior Vice President for Marketing for Asia. Before joining Citibank in 1990, he held senior positions at PepsiCo Inc. Mike started his career at Procter & Gamble.

Mike will step down from the Board of Standard Chartered PLC from 1 June 2008. He will also step down as a Director of Standard Chartered Bank (Hong Kong) Limited.

Mike is a Director of the Board of Trustees for Singapore Management University, a Director for the International Center for Missing & Exploited Children and a Director of the Singapore Sports Council.

An American citizen, Mike has a BA from Ohio University and MBA from Wharton Business School. He is married with six children.

Steve Bertamini has been Chairman and CEO of GE North East Asia and Vice President of General Electric Co. since October 2005. Prior to that, Steve was Chief Executive Officer of GE Australia and New Zealand and President of GE Capital Asia since January 2001. He was responsible for GE acquisition and merger business in the Asia-Pacific region from 2004. Steve served as Director of United Group Ltd from 5 April 2001 to 8 April 2002.

Steve joined GE Capital Services' Management Development Programme in 1986 in Dallas, Texas and subsequently held a variety of positions in GE Capital's businesses. In 1993 he moved to Hong Kong to establish GE Consumer Finance business in Asia and was appointed Managing Director of GE Consumer Finance Asia in 1994. In October 1998 he was appointed COO for GE Australia & New Zealand. In November 1999 he was named Group CEO for GE Consumer Finance & Insurance, Australia & New Zealand.

Steve was also the chairman of GE's volunteer activities in North East Asia, Vice Chairman of the China Conference Board and a member of the Junior Achievement Board in China.

Steve was born in Munich, Germany and grew up in Europe, North Africa and North and South America. He graduated from University of Texas in Austin with a Bachelor's degree of Business in Finance and Management in 1985 and earned his MBA at the University of North Texas in 1991.

Steve enjoys weightlifting, golf, tennis and skiing. He and his wife Brigett have a daughter and two sons.