Standard Bank Group - Retirement of Director

Standard Bank Group - Retirement of Director                                    
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")                                                         
Retirement of Director                                                          
Eddie Theron retires by rotation in terms of the Company"s articles of          
association at the Annual General Meeting ("AGM") scheduled for 14h30 on 2003-05
19 and has elected not to stand for re-election. Eddie will retire at the close 
of the AGM.                                                                     
Formerly Group Chief Executive, he has been a member of the board since 1985. We
would like to thank Eddie for the invaluable contribution that he has made to   
the group.                                                                      
Derek Cooper                                                                    
Chairman                                                                        
Standard Bank Group