Disposal

Standard Chartered PLC 08 January 2004 STANDARD CHARTERED DISPOSAL OF STAKE 8 January 2004 Standard Chartered today sold its 0.4% shareholding (45.4 million shares) in Bank of China's subsidiary, BOC Hong Kong (Holdings) Limited (BOC HK). The shares were acquired at the time of BOC HK's initial listing on the Stock Exchange of Hong Kong in July 2002 at a price of HK$ 8.50 per share. The shares were placed today by Cazenove Asia to institutional clients at HK$ 14.75 per share. Peter Wong Tung Shun, a Director of Standard Chartered Bank (the Group's principal operating company) and CEO of its Hong Kong and China business said: 'Standard Chartered was delighted to support the IPO of BOC HK and continues to enjoy a close relationship with Bank of China both in Hong Kong and China. We will continue to work with the Management of the BOC Group to develop areas of mutual benefit.' Mr Wong added: 'Standard Chartered intends to use the proceeds to further its organic growth, particularly in China'. www.standardchartered.com For further information please contact: Paul Marriage Head of Media Relations +44 (0)20 7280 7163 Bethy Tam Head of Corporate Affairs, Hong Kong +852 282 03812 Caoimhe Buckley Media Relations Manager +44 (0)20 7280 6170 Lavina Chan Senior Corporate Affairs Manager, Hong Kong +852 2820-3075 Note to Editors: Standard Chartered - leading the way in Asia, Africa and the Middle East Standard Chartered employs 30,000 people in over 500 locations in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. It is one of the world's most international banks, with a management team comprising 70 nationalities. Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalisation. It 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 to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, custody, foreign exchange, debt capital markets and corporate finance. Standard Chartered is well-established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability. The Bank is trusted across its network for its standard of governance and its commitment to making a difference in the communities in which it operates. This information is provided by RNS The company news service from the London Stock Exchange
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