Acquisition

Standard Chartered PLC
16 June 2006


16 June 2006


Standard Chartered to acquire an interest in First Africa

Standard Chartered announces that it has today entered into an agreement to
acquire from First Africa Holdings Limited a 25 per cent interest in First
Africa Group Holdings Limited ('First Africa') for cash. The acquisition, which
is subject to certain conditions, including regulatory consents, is expected to
be completed by October 2006.

First Africa is a pan-African corporate advisory boutique and will expand
Standard Chartered's capabilities in providing merger and acquisition and
leveraged finance services to its clients in African-related transactions.

The investment in First Africa fits with Standard Chartered's strategy to be the
world's leading international bank, leading the way across Asia, Africa and the
Middle East.

First Africa's gross assets were US$2.8 million as of 31 December 2005.


ENDS


For further details please contact:

Standard Chartered
Sean Farrell, Head of Media Relations
Tel: [phone]
[e-mail]

Romy Murray, Head of Investor Relations
Tel: [phone]
[e-mail]

First Africa
Kofi Adjepong-Boateng, Group Chief Executive Officer
Tel: [phone]
[e-mail]


Notes to Editors

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

Standard Chartered PLC is listed on both the London Stock Exchange and the Stock
Exchange of Hong Kong and is ranked in the top 25 among FTSE-100 companies by
market capitalisation.

Standard Chartered has a history of over 150 years in banking and is in many of
the world's fastest-growing markets. It has an extensive network of over 1,200
branches (including subsidiaries, associates and joint ventures) in 56 countries
in the Asia Pacific Region, South Asia, the Middle East, Africa, the United
Kingdom and the Americas. As one of the world's most international banks,
Standard Chartered employs almost 44,000 people, representing 89 nationalities,
worldwide.

Standard Chartered's strengths lie in its breadth, diversity and balance and the
Bank is trusted across its network for its standard of governance and corporate
responsibility. The Bank is committed to all its stakeholders by living its
values in its approach to managing its people, exceeding expectations of its
customers, making a difference in communities and working with regulators.

Standard Chartered uniquely derives 95 per cent of profits from Asia, Africa and
the Middle East. Serving both Consumer and Wholesale Banking customers, the Bank
combines deep local knowledge with global capability to offer a wide range of
innovative products and services as well as award-winning solutions.

First Africa

First Africa is an investment banking boutique with offices in Johannesburg and
Nairobi. The firm was founded in 1996 and has been involved in several of
Africa's most important and ground-breaking transactions including acting for
AngloGold in its acquisition of Ashanti Goldfields Company and, more recently,
acting for MTN on its acquisition of Investcom, the Dubai-based telecoms
company.



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

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