Rana Talwar Settlement

Standard Chartered PLC
16 April 2002





TO CITY EDITORS     16th April 2002

FOR IMMEDIATE RELEASE

STANDARD CHARTERED AGREES COMPENSATION FOR RANA TALWAR

The Board of Standard Chartered PLC has agreed to a settlement with
Mr Rana Talwar in respect of compensation payable to him following his departure
from the Bank.

In recognition of the terms of his service contract, Mr Talwar will receive an
initial compensation payment of £590,000 on 15th May 2002 and thereafter, five
further instalments of £394,459, the last instalment falling due on 31st August
2003.

The following points should be noted:

 1. Any emoluments received from other employment in the period to 31st August
    2003, will be fully offset against the payments made by Standard Chartered.
    The settlement is consistent with best practice, and Mr Talwar's duty to
    mitigate.

 2. Were Mr Talwar not to find alternative employment, the maximum compensation
    payable would be £3.2 million, which includes allowances paid to Mr Talwar
    as an expatriate employee. This figure represents an amount less than the
    full value of his 24 month contract.

 3. Mr Talwar will be paid a bonus of £200,000 in respect of his work during
    2001.

 4. All Executive Directors of Standard Chartered are now on 12 month contracts,
    rather than 24 month contracts.

                                    - Ends -



For further information please contact:

Steve Seagrove     Group Head of Corporate Affairs     [phone]

Paul Marriage      Head of Media Relations             [phone]


                           www.standardchartered.com

Note to Editors:

Standard Chartered - the world's leading emerging markets bank

Standard Chartered is the world's leading emerging markets bank. It employs
30,000 people in over 500 offices in more than 50 countries in the Asia Pacific
Region, South Asia, the Middle East, Africa, United Kingdom and the Americas.


The Bank 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/medium sized businesses. The
Wholesale Bank provides services to multinational, regional and domestic
corporate and institutional clients in trade finance, cash management, custody,
lending, foreign exchange, interest rate management and debt capital markets.


With nearly 150 years in the emerging markets the Bank has unmatched knowledge
and understanding of its customers in its markets.


Standard Chartered recognises its responsibilities lies to its staff and to the
communities in which it operates.




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