SCIB - The Standard Bank of South Africa Limited - Adjustments to the

SCIB - The Standard Bank of South Africa Limited - Adjustments to the           
terms and conditions of the Standard Bank Grindrod Ltd share instalments        
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK GRINDROD           
LTD SHARE INSTALMENTS                                                           
Following the Grindrod LTD ("GND") announcement on the non-renounceable         
offer, GND share holders will receive rights to take up 28.6657 Grindrod        
LTD ("GND") share for every 100 shares held at a price of R15.00, this          
offer is subject to approval at the Grindrod AGM being held on 24th             
October 2011.                                                                   
Following this announcement, notice is hereby given that the holders of         
GNDSTE share instalments will not receive any rights but the terms of           
the share instalments will be adjusted to place the share instalment            
holders in the same financial position they were prior to the rights            
offer ex-date. If the offer is not approved at the AGM then the                 
adjustment to the share instalment would have to be reversed.                   
The following share instalments will be affected by this corporate              
action:                                                                         
Existing Terms                                                                  
ISIN             JSE Code  Exercise   Conversion       Expiry  Exercise Style   
Price        Ratio                                 

ZAE000151486       GNDSTE    R12.50          1:1  10 Nov 2011   American Call   
                                                                                
New Terms                                                                       
ISIN             JSE Code  Exercise   Conversion       Expiry  Exercise Style   
                             Price        Ratio                                 
ZAE000151486       GNDSTE    R12.49          1:1  10 Nov 2011   American Call   
The Effective Date of the adjustment shall be 17th October 2011.                
The JSE Limited (JSE) Issuer Services Division has approved the                 
adjustment of the above-mentioned share instalments.                            
This Notice together with the Common Terms Document and Conditions              
Annexure record the terms and conditions of the agreement between the           
Parties.  Any terms used in this Notice which are defined in the Common         
Terms Document, Conditions Annexure and the relevant Supplements shall          
bear the meaning ascribed to them therein, unless specifically stated           
otherwise herein.  Other than as set out herein, the terms and                  
conditions set out in the Common Terms Document, Conditions Annexure and        
relevant Supplements remain unchanged and in full force and effect.             
Please note that Share Instalments are subject to selling restrictions          
and prospective purchases are referred to the relevant Conditions               
Annexure for details of such restrictions.                                      
Date: 17/10/2011 13:33:20 Supplied by www.sharenet.co.za                     
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