Acquisition

Standard Chartered PLC
15 June 2005



                                  News Release

                          Standard Chartered Acquires

                 American Express Bank's Business in Bangladesh

Standard Chartered is pleased to announce that it has signed an Agreement to
acquire the commercial banking business of American Express Bank Limited in
Bangladesh. The purchase is conditional on regulatory approval, and should be
completed within the next few weeks. The purchase consideration will be
approximately USD24.5million, payable in cash.

Osman Morad, Chief Executive Officer of Standard Chartered Bank, Bangladesh,
commented:

'We are very pleased to have reached agreement on this purchase. The acquisition
further consolidates our position as the oldest and largest foreign bank in
Bangladesh and we look forward to serving American Express Bank's customers with
our wide range of products and services. This year Standard Chartered proudly
celebrates 100 years in Bangladesh, and this significant investment underscores
our continued and increasing commitment to the country.'

Qamar Hussain, Chief Executive Officer of American Express Bank, Bangladesh,
said:

'We are pleased to have reached this agreement with Standard Chartered Bank. The
agreement fits our strategic objective of exiting local corporate banking and
focusing on serving the correspondent banking needs of financial institutions in
Bangladesh and around the world. At the same time, we believe that our local
commercial bank clients will be well served by a bank with the history and
reputation of Standard Chartered Bank'.




                                        - END -

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

Standard Chartered Bank Bangladesh is part of the Standard Chartered Group.

Standard Chartered employs 35,000 people in over 500 locations in more than 50
countries in the Asia Pacific region, South Asia, the Middle East, the United
Kingdom and the Americas. It is one of the world's most international banks with
a management team comprising 70 nationalities.

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

It serves both Consumer and Wholesale Banking customers. Consumer Banking
provides credit cards, personal loans, mortgages, deposit taking and wealth
management services to individuals and small to medium sized enterprises.
Wholesale Banking provides corporate and institutional clients with services in
trade finance, cash management, lending, custody, foreign exchange, debt capital
markets and corporate finance.

Standard Chartered is well established in growth markets and aims to be the
right partner for its customers. The Bank combines deep local knowledge with
global capability.

The Bank is trusted across its network for its standard of governance and its
commitment to making a difference in the communities in which it operates.

For further information on Standard Chartered Bank, please contact:

Neel Chatterjee

Regional Head of Corporate Affairs, South Asia

Telephone:       [phone]

Mobile:          [phone]

OR

Shah Masud Imam

Head of Corporate Affairs, Dhaka

Telephone:       [phone]

Mobile:          [phone]



American Express Bank Limited is the international banking subsidiary of
American Express Company. Founded in 1919, it provides services to financial
institutions, high net worth individuals and affluent customers through more
than 75 locations in 45 countries. American Express Company is a diversified
worldwide travel, financial and network services company founded in 1850. It is
a world leader in charge and credit cards, Travellers Cheques, travel, business
services, insurance and international banking.

For further information on American Express Bank Limited, please contact:

Rajiv Ahuja

Director - Public Affairs and Communications

India and Area Countries

Telephone:     [phone]

Mobile:        [phone]




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