THE STANDARD BANK OF SOUTH AFRICA LTD - ISSUE OF STOCK WARRANTS

THE STANDARD BANK OF SOUTH AFRICA LTD - ISSUE OF STOCK WARRANTS                 
THE STANDARD BANK OF SOUTH AFRICA LTD                                           
ISSUE OF STOCK WARRANTS                                                         
Underlying        Issue size  Exercise    Ratio  Warrant Style Exercise    JSE C
Instrument                   Price                          Date                
JSE TOP40 INDEX   100 MILLION 9,800      1000    European Put  05-Aug-04   TOPSB
The JSE Securities Exchange SA Listings Division has approved the listing of the
abovementioned warrants and trading will commence on 19 January 2004            
All members of the JSE may participate in trading which will occur according to 
normal JSE Rules. Settlement will be affected electronically through STRATE.    
Copies of the warrant program and pricing supplement are available at the       
offices stated below.                                                           
Copies of the Offering Circular may be obtained from:                           
The Standard Bank Of South Africa Ltd. Reg - no 1962/000738/06                  
3 Simmonds Street                                                               
Johannesburg                                                                    
2001                                                                            
For further information contact :                                               
Standard Bank Warrants                                                          
Tel 0800 111 780                                                                
Internet : www.warrants.co.za                                                   
Date: 19/01/2004 09:12:02 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department