Acquisition Completed

Standard Chartered PLC 31 July 2000 STANDARD CHARTERED COMPLETES US$1.34 BILLION GRINDLAYS ACQUISITION Standard Chartered PLC announced today (31st July 2000) the completion of the US$1.34 billion acquisition of Grindlays Bank and the associated Grindlays Private Banking business from Australia and New Zealand Banking Group Limited. The necessary regulatory approvals for completion have been obtained. Rana Talwar, Group Chief Executive Standard Chartered PLC, commented: 'This move positions Standard Chartered as the leading international banking business in India, Pakistan, Bangladesh and Sri Lanka, and gives us a much stronger position in the Middle East where we are now challenging for market leadership. The move will bring great benefits to our international customers and our customers in the region. 'The move also significantly strengthens Standard Chartered's position as the world's leading emerging markets bank, adding India to rank alongside Hong Kong, Malaysia and Singapore as significant profit contributors.' For further information please contact: Pamela McGann Group Head, External Affairs 44 (0)20 7280 7245 Tim Halford Director, Corporate Affairs 44 (0)20 7280 7159 www.standardchartered.com
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