Standard Bank Group Limited - Announcement

Standard Bank Group Limited - Announcement                                      
STANDARD BANK GROUP LIMITED                                                     
Incorporated in the Republic of South Africa)                                   
(Registration number 1969/017128/06)                                            
Share code: SBK                                                                 
Namibian Share Code: SNB                                                        
ISIN: ZAE000038873                                                              
("Standard Bank Group")                                                         
STANDARD BANK GROUP                                                             
At the Financial Times Banking Conference being held in London this morning,    
Jacko Maree, Standard Bank Group Chief Executive, commented as follows on the   
Group`s prospects for the 2002 financial year:                                  
" In the Standard Bank Group`s interim profit announcement for June 2002,       
mention was made of the possible negative impact of turbulent world financial   
markets on the prospects for the Group. The environment in which the Group`s    
international division operates has not improved, and in some areas has         
worsened, since the release of the interim results. Earnings from International 
Operations for the year will accordingly be significantly lower than that       
reported in 2001. This adverse effect is however expected to be offset by strong
performances in the Group`s domestic and African banking operations. As a       
result, the Group`s growth in earnings for the year to December is likely to be 
substantially in line with the trend reported for the first half ended June     
2002."                                                                          
For further details contact:                                                    
Kim Howard                                                                      
Director, Investor Relations                                                    
27-11-636 7811                                                                  
Date: 19/11/2002 09:43:38 AM Supplied by www.sharenet.co.za                     
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