Standard Bank Group Limited - Standard Bank Group Directorate

Standard Bank Group Limited - Standard Bank Group Directorate                   
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 Directorate                                                 
Saki Macozoma has, in light of the transaction announced earlier today relating 
to the sale of 25.2% of STANLIB Limited to a consortium, relinquished his       
position as Deputy Chairman of Standard Bank Group and The Standard Bank of     
South Africa Limited ("SBSA"). Standard Bank Group is pleased to announce that  
he will remain on both boards.                                                  
Graham Mackay, currently joint Deputy Chairman, has tendered his resignation    
from the boards of Standard Bank Group and SBSA because of business commitments.
Graham has been a member of the Standard Bank Group board since 1997 and a      
member of the SBSA board since 1995. He was appointed as deputy chairman to both
boards in 2001. He has indicated that he is no longer able to devote sufficient 
attention to his Standard Bank Group obligations.                               
The group has accepted Graham"s resignation with regret and expresses its thanks
to him for his valued contribution to the group and wishes him well in his      
endeavours.                                                                     
Both of these changes are effective from today, 18 June 2003.                   
Derek Cooper                                                                    
Chairman                                                                        
Date: 18/06/2003 08:10:03 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department