The Standard Bank of South Africa Limited - Press Announcement

The Standard Bank of South Africa Limited - Press Announcement                  
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK ANGLOGOLD LTD      
WARRANT                                                                         
Prior Terms                                                                     
JSE Code    Exercise   Conversio  Expiry        Exercise Style                  
            Price      n Ratio                                                  
8ANGSB      R450.00    100 for 1  06/02/2003    American Call                   
9ANGSB      R620.00    200 for 1  06/03/2003    American Call                   
AANGSB      R500.00    150 for 1  08/04/2003    European Put                    
Following the AngloGold Ltd ("ANG") announcement of a 2 FOR 1 share split of    
ANG, the Issuer will amend the Terms and Conditions in the following way:       
The Adjustments                                                                 
On the 27TH December 2002, a new Conversion Ratio and Exercise Price will be    
calculated, so that the effect of the adjustments will be that:                 
1) The Exercise Price and Conversion Ratio will be halved.                      
The New Strike Price = [Old Strike/2]                                           
The New Conversion Ratio = [Old Ratio/2]                                        
Example                                                                         
Before the adjustment the holder of 1 8ANGSB Call Warrant, had the right to     
purchase 0.01 ANG shares at an Exercise Price of R450.00 per share, a total cash
outlay of R4.50 per warrant.                                                    
After the adjustment, a holder of 1 8ANGSB Call Warrant will have the right to  
purchase 0.02 ANG shares at an Exercise Price of R225.00, a total cash outlay of
R4.50 per warrant.                                                              
JSE Code    Exercise   Conversio  Expiry        Exercise Style                  
            Price      n Ratio                                                  
8ANGSB      R225.00    50 for 1   06/02/2003    American Call                   
9ANGSB      R310.00    100 for 1  06/03/2003    American Call                   
AANGSB      R250.00    75 for 1   08/04/2003    European Put                    
The JSE Securities Exchange South Africa ("the JSE") Listings Division has      
approved the adjustment of the above-mentioned warrants, and the adjustments    
will be effective from 27 December 2002.                                        
Date: 20/12/2002 03:05:00 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department