Whistlejacket Capital Limited

Standard Chartered PLC
11 February 2008


             Standard Chartered PLC - Whistlejacket Capital Limited

11 February 2008

Further to the announcement on 31 January 2008 relating to Whistlejacket Capital
Limited ('Whistlejacket'), a structured investment vehicle, Standard Chartered
notes that Whistlejacket has today advised that it has breached its capital note
Net Asset Value ('NAV') trigger of 50 per cent as a result of a recent fall in
the market value of its assets. The breach of the NAV trigger is an enforcement
event, which requires the security trustee, BNY Corporate Trustee Services
Limited, to appoint a receiver to manage Whistlejacket. Standard Chartered Bank
is the investment manager and sponsor of Whistlejacket.

The proposal announced by Standard Chartered on 31 January 2008 to provide
liquidity was subject to certain preconditions, one of which was that
enforcement proceedings had not commenced. That proposal has now lapsed as a
result of the enforcement event. Standard Chartered will discuss with the
receiver, once appointed, alternative arrangements to provide liquidity. Neither
the enforcement event itself, nor any such future arrangements, if executed,
would be expected to have a material impact on Standard Chartered's 2008
earnings or capital resources.

Richard Meddings, Group Finance Director, commented, 'We continue to have
confidence in the quality of Whistlejacket's assets. We remain willing to have
discussions with the receiver, once appointed, and hope to find a viable
solution to ensure flexibility for Whistlejacket.'


For further details please contact:

Standard Chartered

Stephen Atkinson, Head of Investor Relations
Tel: [phone]
[e-mail]

Tim Baxter, Head of External Communications
Tel: [phone]
[e-mail]

Note to Editors:

Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered PLC, listed on both the London Stock Exchange and the Hong
Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market
capitalisation. The London-headquartered group has operated for over 150 years
in some of the world's most dynamic markets, leading the way in Asia, Africa and
the Middle East.  Its income and the number of employees have more than doubled
over the last five years primarily as a result of organic growth and
supplemented by acquisitions.

Standard Chartered aspires to be the best international bank in its markets by
being the right partner for its stakeholders and leading by example. The group
now employs over 70,000 people, representing some 100 nationalities, in more
than 1,400 branches located in over 50 countries.  The bank generates more than
90 per cent of its profits from Asia, Africa and the Middle East, with balanced
income derived from both Wholesale and Consumer Banking.

The group is committed to building a sustainable business over the long term and
is trusted worldwide for upholding high standards of corporate governance,
social responsibility, environmental protection and employee diversity. For more
information, please visit: www.standardchartered.com

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This announcement includes forward-looking statements. Such forward-looking
statements involve known and unknown risks and uncertainties which could cause
the actual results or performance of Standard Chartered PLC to be materially
different from future results or performance expressed or implied by such
forward-looking statements.  These forward-looking statements speak only as at
the date of this announcement.  Standard Chartered PLC expressly disclaims any
obligation or undertaking to disseminate any updates or revisions to any
forward-looking statements contained herein to reflect any change in Standard
Chartered PLC's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.


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