Standard Chartered PLC — M&A Activity 2004

Nov 12, 2004

Standard Chartered PLC

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

STANDARD CHARTERED AND PT ASTRA INTERNATIONAL CONSORTIUM

CONCLUDES 51% ACQUISITION OF BANK PERMATA

The consortium of Standard Chartered PLC and PT Astra International Tbk has today completed its acquisition of a controlling interest of 51% in PT Bank Permata Tbk.

This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The consortium of Standard Chartered PLC and PT Astra International Tbk ("Astra") has today completed its acquisition of a controlling interest of 51% in PT Bank Permata Tbk ("Bank Permata"). This follows the consortium passing Bank Indonesia's fit and proper test.

The consortium has made full payment of Indonesian Rupiah 2.77 trillion (US$305 million) to the Indonesian Government's state-owned asset management company, PT Perusahaan Pengelola Aset. Standard Chartered and Astra have financed the acquisition from existing cash resources.

By Order of the Board

David J. Brimacombe

Company Secretary

Hong Kong, 11 November, 2004

As at the date of this announcement, the Board of the Company 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, Mr. Ho KwonPing; Mr. Rudolph Harold Peter Markham; Ms. Ruth Markland; Mr. Hugh Edward Norton; Mr. Paul David Skinner; and Mr. Oliver Henry James Stocken.

Please also refer to the published version of this announcement in South China Morning Post dated 12 November 2004.

Standard Chartered PLC

12-11-2004