Share Dividend

Standard Chartered PLC
2 October 2001

Share dividend

On 30 August 2001, Standard Chartered PLC offered its shareholders a share
dividend alternative to the 2001 interim cash dividend of 12.82 cents per
share. The offer price for the new shares planned to be issued under the share
dividend scheme was £8.33 (US$ 11.84).

However, given the uncertainty in the global equity markets following the
tragic events in the United States, and the resulting volatility in the
Company's share price, the directors of Standard Chartered PLC consider that
it would not be in the shareholders' best interests for the Company to issue
the share dividend at the offer price. As permitted under the terms of the
scheme, the directors have therefore decided to withdraw the share dividend
offer and to pay the interim dividend in cash only on the payment date of 12
October 2001.