Korea First Bank Directors

Standard Chartered PLC
18 April 2005


             Korea First Bank Announces Additional Board Directors

              Christopher Low Appointed as Chief Operating Officer


Korea First Bank announced today (April 18) that it has appointed Samsung Tesco
President and Chief Executive Officer Seung-Han Lee and Standard Chartered Group
Head of Corporate Affairs Tracy Clarke as directors, subject to regulatory
approval.

Standard Chartered's Chief Integration Officer Christopher Low has been
appointed as Chief Operating Officer.

Dr Lee and Mrs Clarke join Korea First Bank's Board, which now consists of ten
members, five of whom are Koreans.

Korea First Bank Chairman Mr Kai Nargolwala said: 'Dr Lee is a very respected
businessman who has held a number of key management roles in Samsung Group and
its overseas operations over the past 35 years. His insight and business
expertise will greatly contribute to the development of Korea First Bank as a
leader in Korea's financial services industry.'

Mrs Clarke is an experienced international banker who has held a number of sales
and key operational roles with Standard Chartered over the past 20 years. In her
current role she is responsible for Standard Chartered's communication with key
stakeholders and leads the Group's Reputational Risk Committee.

In his new role as Chief Operating Officer, Christopher Low will be responsible
for the Bank's support functions and will work closely with Korea First Bank's
President and Chief Executive Officer John Filmeridis.

Mr Filmeridis said: 'I am very pleased that Chris Low will become Chief
Operating Officer. He is an international banker with tremendous experience
gained as Chief Executive Officer in some of Standard Chartered's large markets,
including India and East Africa.'

Profiles

Seung-Han Lee: Dr Seung-Han Lee, 58, is an experienced businessman who has risen
through the ranks in Samsung Group over the past 35 years to take the helm of
Samsung Tesco. Since joining Cheil Industries, a Samsung Group affiliate, he has
held a number of major roles in Samsung Group including; London Branch Manager
of Samsung Corporation, Samsung Corporation Managing Director, Vice President of
Samsung Group Chairman's Office, and President and Chief Executive Officer of
Samsung Corporation. He has been heading Samsung Tesco, a joint venture of
Samsung Corporation and U.K.-based retailer Tesco, since 1999.

A graduate of Yongnam University in Korea majoring in business management, Dr
Lee holds a master degree and Ph.D in urban planning at Hanyang University.

Tracy Clarke: Tracy Clarke is an experienced banker who has held a number of
sales and key operational roles with Standard Chartered over the past 20 years.
She is currently Group Head of Corporate Affairs where she holds responsibility
for the Bank's profile and engagement with key stakeholders, including
investors, employees, governments and the media. She also leads the Group's
Reputational Risk Committee. Prior to this, Mrs Clarke was Head of the Group
Chief Executive's Office.

Mrs Clarke holds a Masters of Business Administration from Henley Management
College and is an Associate of the Chartered Institute of Bankers.

Christopher Low: Mr Low, 45, is an experienced international banker who is
heading the integration of Standard Chartered Bank and Korea First Bank. He has
held a number of senior positions with Standard Chartered in London, Indonesia,
Singapore, Philippines, Tanzania and Kenya. Before moving to Korea, he was Chief
Executive Officer for India region and, prior to that, Area General Manager for
East Africa covering the bank's operations in Kenya, Tanzania and Uganda.

Before joining Standard Chartered, Mr Low worked for Goldman Sachs International
Limited and Arthur Andersen & Co., both based in London. He is a member of the
Institute of Chartered Accountants in England and Wales and graduated from St.
Peter's College, Oxford University, with honours in Zoology.

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

Standard Chartered employs 33,000 people in over 550 locations in more than 50
countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the
United Kingdom and the Americas. It 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 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.

Korea First Bank

Established in 1929, Korea First Bank is broad based, serving customers across
South Korea with both customer and commercial banking products as well as a wide
range of trust and investment management services.

Korea First Bank is the seventh largest banking group in Korea by assets
totaling US$42 billion. The Bank has strong track record of credit quality with
one of the lowest ratios of non-performing loans (1.5%: December 2004). The Bank
has the 5th largest branch network of 406 branches, including one mobile bank,
2,057 ATM and CD machines and three overseas units. Korea First Bank has 3.2
million retail and 67,900 corporate customers with 1.2 million credit cards in
circulation and 2.6 million e-Banking clients. The Bank's modern and efficient
Customer Service Centres are located in Busan and Seoul.

Standard Chartered Bank in Korea

Standard Chartered Bank is a long standing supporter of Korea. Its history in
the country can be traced to the 1880s, when it opened an agency in what is now
Incheon. Currently, it is engaged in consumer banking and wholesale banking and
is a major provider of global market and banking service products to Korean
companies and banks. A long-standing supporter of Korea, Standard Chartered Bank
aims to expand its business and increase investment in consumer banking in
particular. The bank employs around 200 employees, almost entirely Koreans.
Standard Chartered Bank is a leader in bank syndications, the country's No. 2
provider of custody services, and a top 5 bank in Korean won trading.

The bank entered the consumer banking sector in September 2003, and opened a
Priority Banking Center in May 2004 in the Yeoksam-dong district of Seoul. It is
the first independent private banking branch established by a foreign bank in
Korea and a demonstration of Standard Chartered's intention to be the right
partner to Korean consumers based on global competence and an in-depth knowledge
of local market. Standard Chartered has sponsored a number of international
conferences that position Korea as a financial services hub.

For more information, visit www.standardchartered.com


For further information, please contact

Standard Chartered Bank Korea
Kay Oh, Head, Corporate Affairs
[phone] / [phone]
[e-mail]

Korea First Bank
Won-Kyung Kang
Head, Corporate Communications
[phone] / + 82-11-9917-4577
[e-mail]

Standard Chartered Group
Cindy Tang, Head, Media Relations
[phone]/ [phone]
[e-mail]




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