Standard Chartered PLC — Capital/Financing Update 2009

Nov 2, 2009

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.

Standard Chartered Bank (Hong Kong) Limited

(incorporated with limited liability in Hong Kong: Number 875305)

US$350,000,000 Fixed/Floating Rate Step-Up Notes due 2014

(Stock Code: 2505)

HK$500,000,000 Fixed/Floating Rate Step-Up Notes due 2014

(Stock Code: 2506)

HK$670,000,000 Floating Rate Step-Up Notes due 2014

(Stock Code: 2507)

Proposed Exercise of Option to Redeem Notes

Reference is made to the announcements by Standard Chartered Bank (Hong Kong) Limited (the "Company") on 6 December 2004 in relation to the (1) US$350,000,000 Fixed/Floating Rate Step-Up Notes due 2014 (the "US$ Notes"), (2) HK$500,000,000 Fixed/Floating Rate Step-Up Notes due 2014 (the "HK$ Fixed/Floating Rate Notes") and (3) HK$670,000,000 Floating Rate Step-Up Notes due 2014 (the "HK$ Floating Rate Notes"), in each case issued by the Company on 3 December 2004 under the US$10,000,000,000 debt issuance programme of Standard Chartered Bank and the Company ((1), (2) and (3) together, the "Notes").

The Company announces that it proposes to exercise its option to redeem the Notes in whole on 4 December 2009 (the "Redemption Date") in accordance with the Terms and Conditions of the Notes. Relevant regulatory approvals for the redemption of the Notes have been obtained.

In accordance with the Terms and Conditions of the Notes, the Company will, not less than 15 days and not more than 30 days before the Redemption Date, give to holders of the Notes notice that it will exercise its option to redeem the Notes.

The Notes will be redeemed at a redemption price of 100 per cent. of the principal amount, together with any accrued and unpaid interest payable thereon up to but excluding the Redemption Date. Any interest in respect of the Notes shall cease to accrue on and after the Redemption Date.

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As at the close of business on 30 October 2009, being the latest practicable date prior to the issue of this announcement, the aggregate principal amounts of the Notes outstanding were US$350,000,000 in the case of the US$ Notes, HK$500,000,000 in the case of the HK$ Fixed/Floating Rate Notes and HK$670,000,000 in the case of the HK$ Floating Rate Notes.

Upon redemption of the Notes in whole, there will be no further outstanding Notes in issue. Accordingly, the Company has made an application to The Stock Exchange of Hong Kong Limited for the Notes to be delisted. Subject to redemption of the Notes having taken place prior to that date, it is proposed that delisting of the Notes will take effect from the close of business on 10 December 2009.

By order of the Board
Standard Chartered Bank (Hong Kong) Limited
Lai Wing Nga
Company Secretary

Hong Kong, 2 November 2009

As at the date of this announcement, the Directors of the Company are:

Chairman:
Sir CK Chow*

Executive Directors:
Hung Pi Cheng Benjamin; Fong Julian Loong Choon and Tan Siew Boi

Non-Executive Directors
Jaspal Singh Bindra; Tsang King Suen Katherine; Stefano Paolo Bertamini; Olga Louise Zoutendijk; Kwok Ping Luen Raymond; Ma Xuezheng; Norman Lyle; and Chan Wing Kin.

*Independent Non-Executive Directors