Acquisition

Standard Chartered PLC
02 May 2008





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: [phone]                         Tel: + 852 2820 3958
[e-mail]           [e-mail]


Press
Arijit De                                        Jeremy Kirk
Head of Media Relations                          Regional Head of Corporate Affairs, SEA
Tel: [phone]                         Tel: [phone]
[e-mail]                  [e-mail]


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



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