SCB Share Offer Successful

Standard Chartered PLC
28 October 2002


NOT FOR DISTRIBUTION IN JAPAN, CANADA OR THE UNITED STATES

           Standard Chartered PLC Share Offer Successfully Completed

Hong Kong, 28 October, 2002 - Standard Chartered PLC (the 'Company') today
announced that it has successfully priced its global Share Offer in connection
with its listing on the Stock Exchange of Hong Kong ('SEHK'). Despite stringent
UK Investor Protection Committee ('IPC') restrictions on discounts offered to
new investors and sharp appreciation of the Company's share price on the London
Stock Exchange since the beginning of this month, both the Hong Kong Public
Offer and the Institutional Offer were comfortably oversubscribed.

Standard Chartered has achieved its stated objectives from the listing. With a
dual-primary listing on the SEHK, the Company is now able to access an enlarged
investor base, including those funds in Asia and around the world which are
specifically mandated to invest in Asian-listed stocks.

Standard Chartered also expects to have a higher profile in Hong Kong on an
ongoing basis as a result of this successful listing. In addition, the Company
has demonstrated its commitment to Hong Kong, China and Asia.

The final offer price for the Company's Share Offer has been set at HK$84.00 per
share (excluding brokerage commission, SFC transaction levy and Hong Kong Stock
Exchange trading fee). This represents an approximate 2% discount to the closing
price of GBP7.08 (HK$85.77 based on the US Federal Reserve noon buying rates on
Friday, 25 October, 2002) of the Company's shares trading on the London Stock
Exchange on Friday, 25 October, 2002. The offer price per share (exclusive of
brokerage commission, SFC transaction levy and SEHK trading fee) is the same for
both the Hong Kong Public Offer and the Institutional Offer.

The final offer size is 30,434,800 shares, or 2.7% of the issued share capital
of the Company. In addition, the Company has granted the underwriters for the
Institutional Offer an over-allotment option of 15% of the base offer size.

During the three-and-a-half day Hong Kong Public Offer period, a total of 5,062
valid applications were received for a total of 3,829,700 Hong Kong Public Offer
Shares (including subscription under the preferential offer by eligible Standard
Chartered employees).

                    Information on the Standard Chartered Share Offer

Final Offer Price                                               HK$84.00 per share
Final Offer Size                                                30,434,800 shares
Final Hong Kong Public Offer Size                               3,829,700 shares
# of Valid Applications in Hong Kong Public Offer (including    5,062
subscription under the preferential offer by eligible Standard
Chartered employees)
Final Institutional Offer Size                                  26,605,100 shares
Initial Hong Kong Public Offer / Institutional Offer Split      10%/90%
Final Hong Kong Public Offer / Institutional Offer Split        13% / 87%
Over-allotment Option                                           15% of Share Offer

                                                                4,565,200 shares



Size of the Hong Kong Public Offer

The Company has decided to allocate 3,829,700 shares to the Hong Kong Public
Offer, representing 13% of the Share Offer (excluding the over-allotment option
granted to the Institutional Underwriters)

Basis of Allocation for the Hong Kong Public Offer


  • The basis of allocation of the shares in the Hong Kong Public Offer (the
    'Hong Kong Public Offer Shares') is expected to be published in the South
    China Morning Post and the Hong Kong Economic Times on Tuesday, 29 October,
    2002.

Dissemination of Allocation Results

The results of allocation of the Hong Kong Public Offer Shares, which will
include the Hong Kong identity card numbers, passport numbers or Hong Kong
business registration numbers of successful and partially successful applicants
and the number of Hong Kong Public Offer Shares successfully applied for, will
be available at the times and dates and in the manner specified as follows:


  • special allocation results booklets setting out the results of allocations
    will be available for reference at the designated branches of the receiving
    banks listed in the Prospectus during opening hours of individual branches
    from Tuesday, 29 October, 2002 to Thursday, 31 October, 2002;

  • results of allocations will be available from the Standard Chartered Share
    Offer Hotline. Applicants may find out whether or not their applications
    have been successful and the number of Hong Kong Public Offer Shares
    allocated to them, if any, by calling 183-3828 between 7:00 am and 12:00
    midnight from Tuesday, 29 October, 2002 to Thursday, 31 October, 2002;

  • results of allocations will be available from the Standard Chartered Share
    Offer Website at www.scbhklisting.com.hk on a 24-hour basis from Tuesday, 29
    October, 2002 to Friday, 8 November, 2002;

  • special allocation results booklets setting out the results of allocations
    will be available for inspection at all 128 branches of Hongkong Post during
    opening hours of individual post offices from Tuesday, 29 October, 2002 to
    Thursday, 31 October, 2002; and

  • the Hong Kong Underwriters, which are listed in the Prospectus, will have
    special allocation results booklets setting out the results of allocations.
    Applicants can contact the Hong Kong Underwriters for results of allocations
    during normal business hours from Tuesday, 29 October, 2002 to Thursday, 31
    October, 2002.

Despatch/collection of Share Certificates and Refund of Application Monies

Refund cheques for surplus application monies, if any, in respect of wholly and
partially unsuccessful applications and monies representing the difference
between the final offer price and the maximum offer price will be issued to all
relevant applicants. Applicants who applied for 15,000 or more Hong Kong Public
Offer Shares and who have indicated on their Application Form that they wish to
collect their refund cheques and where appropriate, share certificate(s), can
collect their share certificate(s), where applicable, and/or refund cheques in
person from:


    Computershare Hong Kong Investor Services Limited

    Shops 1712-1716

    17th Floor

    Hopewell Centre

    183 Queen's Road East

    Wanchai

    Hong Kong

between 9:00 am and 12:00 noon on the date of collection which is expected to be
on (i) Tuesday, 29 October, 2002 for share certificate(s) and (ii) Wednesday, 30
October, 2002 for refund cheques, after which uncollected share certificates and
refund cheques, if any, will be despatched promptly to investors by ordinary
post at the investors' own risk to addresses stated on their Application Forms.
Share certificates and refund cheques for all other applicants will be
despatched by ordinary post at the investors' own risk to addresses stated on
their Applications Forms on or before (i) Tuesday, 29 October, 2002 for share
certificates and (ii) Wednesday, 30 October, 2002 for refund cheques.

Share certificates for successful applicants using the Yellow Application Form
will be deposited into CCASS at the close of business on Tuesday, 29 October,
2002 or under contingent situations, on any other date as HKSCC will determine.

Size of Institutional Offer

The Institutional Offer size is 26,605,100 shares. Demand was received from a
broad range of professional and institutional investors in Hong Kong, Asia,
North America and Europe.

First Day of Trading on the SEHK

The Company's shares are expected to commence trading on the SEHK on Thursday,
31 October, 2002, with stock code '2888'.

Company Background

Standard Chartered is the world's leading emerging markets bank. It employs
28,000 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 to its staff and to the communities in which it operates.

For further information, please contact:

Steve Seagrove, Group Head of Corporate Affairs (Tel: [phone]: Mobile:
[phone])

Ben Hung, Head of Investor Relations (Tel: [phone]; Mobile: +44 7748
111 463)

Paul Marriage, Head of Media Relations (Tel: [phone]; Mobile: +44 7909
687 366)

Bethy Tam, Regional Head of Corporate Affairs, HK, China, NE Asia (Tel: +852
2820 3812 Mobile: [phone])

Lavina Chan, Senior Corporate Affairs Manager, HK, China, NE Asia (Tel: +852
2820 3075; Mobile: [phone])

Ends

This release is not, and is not intended to be, an offer of, or an invitation to
purchase or to induce an offer by any person to acquire or purchase, securities
of Standard Chartered PLC within Hong Kong, the United States or elsewhere nor
is it intended to be an offer of, or an invitation to purchase or to induce an
offer by any person to acquire or purchase, securities of Standard Chartered PLC
in any jurisdiction or in any circumstances in which such an offer or invitation
is not authorised or to any person to whom it is unlawful to make such an offer
or invitation. This release should not be transmitted or otherwise distributed
in any matter in whole or in part in Canada, Japan or the United States.
Securities of Standard Chartered PLC may not be offered or sold in the United
States unless they have been registered, or are offered or sold pursuant to an
exemption from registration, under the U.S. Securities Act of 1933, as amended.
The securities being offered in the Share Offer have not been, and will not be,
registered under the U.S. Securities Act of 1933, as amended.

The Securities and Futures Commission and The Stock Exchange of Hong Kong
Limited take no responsibility for the contents of this release, make no
representation as to its accuracy or completeness and expressly disclaim any
liability whatsoever for any loss howsoever arising from or in reliance upon the
whole or any part of the contents of this release.

The Share Offer is not being made in the United Kingdom except to persons who
(i) are persons falling within Article 49 of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2001 (as amended) (the 'Order') or (ii) who
have professional experience in matters relating to investments who fall within
Article 19 of the Order. In the United Kingdom the shares under the Share Offer
are only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such shares will only be available to, or will be
engaged in only with, such persons.


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

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