Stanbic - Director Appointment: Deputy Chief Executive

STANDARD BANK INVESTMENT CORPORATION LIMITED
(Registration No. 1969/017128/06)
Share Code: SBC
ISIN Code: ZAE000014858
("Stanbic")
Director Appointment: Deputy Chief Executive

Myles Ruck has been appointed Deputy Chief Executive of Stanbic, The

Standard Bank of South Africa Limited ("SBSA") and Chairman of Standard
Corporate and Merchant Bank ("SCMB"), a division of SBSA. Myles is currently
Managing Director of SCMB and a director of SBSA. He will be appointed to
the Stanbic board.

The top executive workload is increasing as the Stanbic group expands both
in South Africa and internationally. In addition to working closely with the
Chief Executive, Jacko Maree, Myles will be directly responsible for SCMB,
the Commercial Bank, Group Marketing and Communications and will play an
increasing role in all group credit functions.

Ben Kruger has been appointed Managing Director of SCMB. Currently Deputy
Managing Director of SCMB, Ben is ideally positioned to assure the
continuation of SCMB's successful track record.