Tender Offer

Standard Chartered PLC
02 December 2002


Not for release, publication or distribution in or into the United States,
Canada or Australia,


                                                                 2 December 2002

                             Standard Chartered PLC

                            Successful Tender Offer

                 $659 million of Preference Shares Repurchased


Standard Chartered PLC announces that valid tenders have been received in
respect of 659,126 of its 8.9% dollar preference shares, representing
US$659,126,000 in principal amount, as a result of the tender offer made to
dollar preference shareholders on 11 November 2002. The tender offer is now
unconditional in all respects.

All validly tendered dollar preference shares will be purchased by the Company
at US$1,110 per dollar preference share, plus an amount equal to accrued (but
unpaid) dividends per dollar preference share up to (but excluding) the
settlement date, which is expected to be Wednesday 4 December 2002. The dollar
preference shares purchased will be cancelled by the Company, after which
340,874 of the dollar preference shares, representing US$340,874,000 in
principal amount, will remain in issue.

The Tender Offer is an integral part of Standard Chartered's strategy of
optimising the amount and mix of capital in the balance sheet. Standard
Chartered is pleased to have been able to retire a significant portion of the
8.9% dollar preference shares in a cost-effective manner.



For further information please contact:

At the Company
Ben Hung, Head of Investor Relations on [phone]
Paul Marriage, Head of Media Relations on [phone]

At UBS Warburg
Richard Johnson on [phone]
Mark Leahy on [phone]
Frank Kennedy on [phone]

At Cazenove
John Paynter on [phone]
James Douglas on [phone]
Richard Locke on [phone]



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.

In connection with the tender offer, UBS Warburg Ltd., which is regulated in the
United Kingdom by the Financial Services Authority, is acting for Standard
Chartered and no-one else and will not be responsible to any other person for
providing the protections afforded to its customers or providing advice in
relation to the tender offer.

In connection with the tender offer, Cazenove & Co. Ltd, which is regulated in
the United Kingdom by the Financial Services Authority, is acting for Standard
Chartered and no-one else and will not be responsible to any other person for
providing the protections afforded to its customers or providing advice in
relation to the tender offer.

Dated 2 December 2002


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