Acquisition of Company

Standard Chartered PLC
16 October 2007


Standard Chartered First Bank Korea Limited to acquire 80 per cent of a Korean
fund administration company

Standard Chartered PLC announces that its subsidiary company, Standard Chartered
First Bank Korea Limited ('SC First Bank') has entered into an agreement to
acquire 80 per cent of A Brain Co., Ltd. ('ABL'), a Korean fund administration
company. As part of the transaction, SC First Bank and ABL will enter into a put
and call option under which ABL can sell and SC First Bank can buy the remaining
20 per cent from January 2008.

ABL is one of the top fund administration companies in Korea, focusing
exclusively on fund accounting services. Its clients include many of the leading
international and domestic asset management companies and institutions in Korea.
The management and employees of ABL are highly respected in the industry and
bring with them a wealth of experience and a strong client base.

This acquisition is part of SC First Bank's strategy to grow its Wholesale
Banking business in Korea by adding new services and new customers.  It fits
well with the services Standard Chartered offers institutional clients in other
markets.

David Edwards, President and CEO, SC First Bank said: 'ABL is a great fit with
SC First Bank and a positive step forward in growing our Wholesale Banking
business.  Bringing ABL into the SC First Bank family highlights our
determination to be the leading bank for Korean businesses and financial
institutions by enhancing the comprehensive financial solutions we tailor for
each of our clients. As one of Korea's top employers in 2007, SC First Bank also
eagerly looks forward to providing ABL employees further career opportunities as
part of the larger SC First Bank and Standard Chartered global network.'

Lee, Soon-Hak, CEO, ABL, said: 'We are excited at the prospect of becoming part
of the SC First Bank family. Combining our specialised expertise and technology
with the support and international network of Standard Chartered puts us in a
strong position to provide enhanced service to our customers. '

The acquisition, which is subject to certain conditions, including regulatory
approvals, is expected to be completed by the end of 2007.

As at 31 March 2007, the gross assets that are the subject of the transaction
were approximately USD8 million and ABL's total gross assets were approximately
USD10 million.


For further details please contact:

Standard Chartered

Stephen Atkinson, Head of Investor Relations
Tel: [phone]
[e-mail]

Ruth Naderer, Head of Investor Relations, Asia Pacific
Tel: + 852 2820 3075
[e-mail]

Tim Baxter, Head of External Communications
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

Standard Chartered First Bank Korea Limited

SC First Bank was formed by the merger of Korea First Bank and Standard
Chartered's existing business in April 2005.  SC First Bank has 368 outlets in
128 cities, having a combined customer base of over 3.5 million in retail
banking and over 1,200 corporate relationships. Key businesses include Consumer
Banking, primarily credit cards, mortgages, personal loans and wealth management
and, Wholesale Banking, where the Bank specialises in the provision of cash
management, trade finance, treasury and custody services.

A Brain Co., Ltd

First established in 1999, ABL has become one of the top fund administration
firms in Korea and has a team of highly dedicated professionals that strive to
provide an unparalleled quality of service to its clients.

ABL has approximately USD50 billion assets under administration.


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