Acquisition

Standard Chartered PLC
17 June 2005



FOR IMMEDIATE RELEASE



Standard Chartered takes stake in

Asia Commercial Bank, Vietnam

International bank to provide technical assistance to Vietnamese bank

Friday 17 June 2005, Ho Chi Minh City - Standard Chartered and Asia Commercial
Bank, Vietnam ('ACB') announced today that Standard Chartered has acquired a
stake in ACB, one of the leading joint stock banks in the country. Standard
Chartered is the first foreign bank to be allowed by the Government and the
State Bank of Vietnam to purchase a stake in a domestic financial institution.

As part of the agreement, Standard Chartered is introducing fresh capital into
the bank such that post-acquisition, it will own 8.56 per cent of the enlarged
capital of ACB. The total investment will be approximately US$22 million, in
cash. In addition Standard Chartered will provide technical assistance in the
areas of risk management, consumer banking, brand and distribution.

Commenting on the partnership, Mervyn Davies Group Chief Executive of Standard
Chartered said, 'With a population of over 80 million people, Vietnam is one of
the fastest growing economies in Asia with huge potential in consumer banking.
ACB is one of the premier banks in the Country, and its growth and development
will benefit both the consumers and the industry in Vietnam.'

'ACB is taking the lead to be international standards in risk and compliance
management, sales and marketing, human resource management, as well as product
development, brand and distribution. We believe our global expertise and
experience in Asia will provide a strong complement to support these
objectives.'

Mr Tran Mong Hung, Chairman of Asia Commercial Bank said, 'We are delighted to
have Standard Chartered as our partner. We intend to leverage strengths of
Standard Chartered to drive the growth of ACB for the benefit of all our
stakeholders. We will work with Standard Chartered to enhance our product range,
services and delivery standards to become the best bank in our country.'



-END-

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

Following the acquisition of Korea First Bank, Standard Chartered now employs
38,000 people in 950 locations in more than 50 countries in the Asia Pacific
Region, South Asia, the Middle East, Africa, the United Kingdom and the
Americas. Standard Chartered is one of the world's most international banks,
with employees representing 80 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, securities services, 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, please visit www.standardchartered.com or contact

Standard Chartered, Group Corporate Affairs

Cindy Tang, Head, Media Relations

Tel [phone]

Mobile [phone]

[e-mail]

Wong Ai Kwei, Regional Head, Southeast Asia

Tel [phone]

Mobile [phone]

[e-mail]


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