Acquisition of a Company

Standard Chartered PLC
11 January 2008


Standard Chartered to acquire Yeahreum Mutual Savings Bank


Standard Chartered has entered into an agreement to acquire Yeahreum Mutual
Savings Bank ('Yeahreum').


Yeahreum was established by the Korea Deposit Insurance Corporation in December
2006 by transferring good assets and liabilities from three regional mutual
savings banks.


The acquisition is a unique opportunity for Standard Chartered to enter the
mutual savings bank market in Korea ahead of the impending liberalisation of the
financial sector through the Financial Investment Services and Capital Market
Act.  With over 50,000 retail customers and over 800 corporate customers,
Yeahreum will enhance Standard Chartered's existing Korean consumer finance
operations, broaden the current product offering and provide a presence in the
economically important Jeonnam and Kyunggi provinces. The acquisition fits well
into Standard Chartered's overall strategy to increase the breadth of its
franchise in Korea as well its general intent to seek capability enhancing
acquisitions.


Mike DeNoma, Group Executive Director responsible for Consumer Banking, said: '
The acquisition of Yeahreum is a further step in our continuous investment
programme in Korea and is a sign of our commitment following the acquisitions of
Korea First Bank in 2005 and A Brain Co., Ltd in 2007.  This broadens Standard
Chartered's customer base in one of our largest markets into a business segment
with strong revenue growth and returns'.


The acquisition, which is subject to certain conditions, including regulatory
approvals, is expected to be completed in the first quarter of 2008.


As at 30 September 2007, the gross assets of Yeahreum were approximately USD827
million.


For further details please contact:


Standard Chartered


Stephen Atkinson, Head of Investor Relations

Tel: [phone]

[e-mail]



Arijit De, Head of Media Relations

Tel: [phone]

[e-mail]



Note to Editors:


Standard Chartered - leading the way in Asia, Africa and the Middle East


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 by
being the right partner for its stakeholders and leading by example. The group
now employs over 60,000 people, representing some 100 nationalities, in more
than 1,400 branches located in over 50 countries.  The bank generates more than
90 per cent of its 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



Yeahreum Mutual Savings Bank



Created on 28th December 2006, Yeahreum comprises the amalgamated operations of
three existing regional mutual savings banks which were packaged together and
restructured by Korea Deposit Insurance Corporation ('KDIC').  This is the
second such restructuring and sale by KDIC following the sale of Yegaram Mutual
Savings Bank to Goryo Mutual Savings Bank Consortium in April 2006.



Employing 75 staff, Yeahreum operates through six branches located in two
economically important provinces (Jeonnam and Kyunggi). Yeahreum has over 50,000
retail customers and over 800 corporate customers and currently provides a broad
suite of products including personal loans, mortgages and SME loans.


-- ENDS --


                      This information is provided by RNS
            The company news service from the London Stock Exchange