Standard Chartered PLC — Merger & Acquisition 2008

May 2, 2008

STANDARD CHARTERED PLC

(渣打集團有限公司)

(Registered in England and Wales number 966425)

(Stock Code: 02888)

STANDARD CHARTERED PLC – ACQUISITION OF A FURTHER STAKE IN ASIA COMMERCIAL BANK

Standard Chartered to acquire a further stake in Asia Commercial Bank, Vietnam

Standard Chartered PLC, through its subsidiary Standard Chartered Bank (Hong Kong) Limited, has agreed to acquire from International Finance Corporation a further 6.16 per cent of the ordinary shares in Asia Commercial Bank, Vietnam (“ACB”) and a further 7.10 per cent of the convertible bonds of ACB. This acquisition, which is subject to the appropriate regulatory approvals, increases the investment of the Standard Chartered Group (“Standard Chartered”) in ACB from 8.84 per cent of ACB’s ordinary shares to 15.00 per cent and from 8.76 per cent of ACB’s convertible bonds to 15.86 per cent. As at 31 December 2007, the total value of ACB’s gross assets was USD5.4 billion.

ACB is one of the leading joint-stock banks in Vietnam. Standard Chartered has been a shareholder and strategic partner of ACB since July 2005. This additional investment will allow Standard Chartered to further strengthen its relationship with ACB, as well as benefit from the growth and development of the economy in Vietnam.

Jaspal Bindra, Chief Executive Officer, Asia, said: “Standard Chartered considers Vietnam a key growth market in Asia and we are strongly committed to the development of its banking industry. We are pleased to be building our partnership with Asia Commercial Bank through this strategic transaction, as part of our integrated approach to expanding our presence in Vietnam.”

For further information, contact:

Investors

Stephen Atkinson Ashia Razzaq
Head of Investor Relations Head of Investor Relations, Asia Pacific
Tel: +44 (0)20 7885 7245 Tel: + 852 2820 3958
Stephen.Atkinson@standardchartered.com Ashia.Razzaq@standardchartered.com

Press

Arijit De Jeremy Kirk

Head of Media Relations Regional Head of Corporate Affairs, SEA

Tel: +44 (0)20 7885 7163 Tel: +65 6725 7741

Arijit.De@standardchartered.com Jeremy.Kirk@standardchartered.com

Note to Editors:

Standard Chartered PLC

Standard Chartered PLC, listed on both the London Stock Exchange and the Hong Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East.  Its income and the number of employees have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.

Standard Chartered aspires to be the best international bank in its markets through leading by example to be the right partner for its stakeholders. The group now employs 73,000 people, representing 115 nationalities, in more than 1,700 branches and outlets located in over 70 countries. The bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, with balanced income derived from both Wholesale and Consumer Banking.

The group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. For more information, please visit: www.standardchartered.com

Asia Commercial Bank

ACB was established in 1993 and is one of the largest and fastest growing joint stock commercial banks in Vietnam. The bank occupies a market leading position in providing financial services with a focus on consumers and small private businesses. As of December 2007, ACB had total assets of USD5.4 billion and profit before tax of USD117 million. ACB has 117 branches across Vietnam and employs more than 5,000 people. For more information, please visit: www.acb.com.vn

-- ENDS –

2 May 2008

As at the date of this announcement, the Board of Directors of Standard Chartered 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.