Acquisition Completed, etc

STANDARD CHARTERED PLC
10 September 1999


STANDARD CHARTERED PROGRESSES GROWTH STRATEGY WITH ACQUISITION OF NAKORNTHON
BANK

Standard Chartered announces that it has taken a significant step forward in
its growth strategy by acquiring 75 per cent of Nakornthon Bank
('Nakornthon').  The acquisition was successfully completed today and
Nakornthon has been renamed Standard Chartered Nakornthon Bank Public Company
Limited ('SCNB').

Rana Talwar Group Chief Executive of Standard Chartered PLC commented 'We
believe Thailand has substantial growth potential.  This acquisition is a key
element in our growth strategy which is enabling Standard Chartered to emerge
stronger from the Asian crisis.  Today we start to build Standard Chartered
Nakornthon into one of Thailand's premier commercial banks offering the
highest standard of customer service.'

The Transaction
 
Standard Chartered has acquired 75 per cent of the equity and full management
control of Nakornthon for THB 12.377 billion (GBP 193 million).  24.97 per
cent of the shares are held by the Financial Institutions Development Fund
('FIDF'), a fund established by the Bank of Thailand ('BOT'), which has
recapitalised Nakornthon to approximately THB 7 billion (GBP 109 million). 
The remaining shares are held privately.  Under the terms of the agreement,
FIDF will provide yield maintenance and bear 85 per cent of any future losses
on a portfolio of identified loans for a period of five years.

The acquisition concluded today after negotiation following the intervention
and recapitalisation of Nakornthon by the BOT / FIDF.  Under the terms of the
transaction, Standard Chartered has agreed a premium over Nakornthon's book
value in return for outright control of Nakornthon, yield maintenance and
significant protection against latent deterioration of the loan portfolio.

Building The New Business

'We are confident of the long term prospects for Thailand and are delighted
with the success of our bid for Nakornthon.  It has a strong customer base and
an excellent branch network for the distribution of our world class consumer
and corporate banking products.  This is an exciting time for everyone
involved' Dru Narwani, Chief Executive of Standard Chartered in Thailand said.

Standard Chartered Nakornthon will focus on building a strong consumer banking
franchise using its well-established network to reach a strong base of over
100,000 customers.  There are plans to introduce many new consumer products
such as debit / credit cards as well as mortgage, investment and personal
finance products to Thai customers.

Standard Chartered will also build on SCNB's understanding of the Thai local /
middle market businesses and extend its product range to provide superior
trade, cash management and treasury solutions to the corporate segment.  



Note to Editors:

Nakornthon Bank, with 67 domestic branches, is the second oldest Thai bank and
with assets of approximately GBP 1 billion, is ranked 12th out of 13 Thai
commercial banks by asset size.  Nakornthon recorded an average annual deposit
growth rate of over 16 per cent from 1994 to 1997 and 30 per cent in 1998,
compared to a number of leading Thai banks, which averaged annual growth in
deposits of only 10 per cent between 1994 and 1998.  Although relatively
small, Nakornthon has retained its share of customers and depositors over the
last five years.

Standard Chartered PLC, listed on the London Stock Exchange, is a world class
global emerging markets bank with over 26,000 employees and a presence in over
50 countries.  It first opened in Thailand in 1894 and currently operates
through a branch in Bangkok.  It is a premier international bank in Thailand
providing a comprehensive service to individuals, corporate customers, banks
and investing institutions.

For further information please contact:

Tim Halford, Director of Corporate Affairs                         
0171.280.7159
Pam McGann, Group Investor Relations Manager                   0171.280.7164
Alex Blake-Milton, Regional Head of External Affairs UK/Eu/US  0171.280.7359