Standard Chartered PLC — M&A Activity 2006

Sep 7, 2006

STANDARD CHARTERED ANNOUNCES THE COMPLETION OF THE ACQUISITION OF A 95.37% INTEREST IN UNION BANK LIMITED

FOR IMMEDIATE RELEASE

Standard Chartered PLC announces that its subsidiary company, Standard Chartered Bank (Pakistan) Limited, has today completed the acquisition of a 95.37 per cent interest in Union Bank Limited. The amount paid was US$487 million, in cash.

For further information, please contact:

Stephen Atkinson, Head of Investor Relations

Tel: +44 20 7280 7245

Stephen.Atkinson@uk.standardchartered.com

Matthew Chan, Manager, Media Relations

Tel: +44 20 7280 7707

Matthew.K.Chan@uk.standardchartered.com