Proposed Acquisition

Standard Chartered PLC
26 October 2004


Standard Chartered agrees transfer of project finance business from ANZ

Standard Chartered Bank and Australia and New Zealand Banking Group Limited
today announced that they have signed a Memorandum of Understanding for the
transfer of the majority of ANZ's London-headquartered Project Finance business
to Standard Chartered.

The business operates in the Middle East, South Asia, Africa, Europe and the
Americas, and will see loans and commitments of approximately US$1.5 billion
transferred to Standard Chartered.

The move will accelerate the growth of Standard Chartered's own project finance
business, strengthening its capability to serve its wholesale banking customers
in Asia, Africa and the Middle East.

The sale remains subject to due diligence and other standard conditions and is
expected to be completed by December 2004.


For further details please contact:

Paul Marriage, Head of Corporate Communications: tel: [phone]

[e-mail]

Ben Hung, Head of Investor Relations: tel: [phone]

[e-mail]



Note to Editors

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

Standard Chartered employs 30,000 people in over 500 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 a management team comprising 70 nationalities.

Standard Chartered 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.


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