Acquisition

Standard Chartered PLC
11 November 2004



     STANDARD CHARTERED and PT ASTRA INTERNATIONAL CONSORTIUM CONCLUDES 51%
                          ACQUISITION OF BANK PERMATA


The consortium of Standard Chartered PLC and PT Astra International Tbk (Astra)
has today completed its acquisition of a controlling interest of 51% in PT Bank
Permata Tbk (Bank Permata). This follows the consortium passing Bank Indonesia's
fit and proper test.

The consortium has made full payment of Indonesian Rupiah 2.77 trillion (US$305
million) to the Indonesian Government's state-owned asset management company, PT
Perusahaan Pengelola Aset. Standard Chartered and Astra have financed the
acquisition from existing cash resources.




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