Statement re Debts

Standard Chartered PLC
21 October 2002

           NOT FOR DISTRIBUTION IN JAPAN, CANADA OR THE UNITED STATES

                             Standard Chartered PLC

                  Update on Personal Bankruptcies in Hong Kong

 Standard Chartered today announced that the total amount charged to bad debts
as a result of personal bankruptcies in Hong Kong in the third quarter of 2002
was US$74million. This compares to US$83m in the second quarter and US$66m in
the first quarter.

Information on Standard Chartered is available from its website
(www.standardchartered.com).

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     Tel: [phone]

Group Head of Corporate Affairs     Mobile: [phone]

Ben Hung     Tel: [phone]

Head of Investor Relations     Mobile: [phone]

Paul Marriage     Tel: [phone]

Head of Media Relations      Mobile: [phone]

  Bethy Tam     Tel: [phone]

Regional Head of Corporate Affairs, HK, China, NE Asia     Mobile: [phone]

Lavina Chan     Tel: [phone]

Senior Corporate Affairs Manager, HK, China, NE Asia     Mobile: [phone]



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