Standard Bank Group Limited - Results of the Offer For Subscription And The

Standard Bank Group Limited - Results of the Offer For Subscription And The     
Private Placement                                                               
STANDARD BANK GROUP LIMITED                                                     
(Incorporated in the Republic of South Africa)                                  
(Registration number 1969/017128/06)                                            
Share code: SBPP                                                                
ISIN: ZAE000056339                                                              
("Standard Bank Group" or "the Company")                                        
RESULTS OF:                                                                     
* the offer for subscription of 5 000 000 non-redeemable, non-cumulative, non-  
participating preference shares with a par value of R0,01 each ("preference     
shares") at a subscription price of R100 per preference share ("offer for       
subscription");                                                                 
and                                                                             
* a private placement of 20 000 000 preference shares ("private placement").    
1. INTRODUCTION                                                                 
Shareholders are referred to the announcement dated 8 June 2004 relating to     
the private placement and the abridged pre-listing statement in respect of      
the offer for subscription dated 14 June 2004.                                  
2. RESULTS OF THE PRIVATE PLACEMENT AND OFFER FOR SUBSCRIPTION                  
In terms of the private placement, 20 000 000 preference shares, at an          
aggregate value of R2 billion, were successfully placed with institutional      
investors. The offer for subscription was for 5 000 000 preference shares,      
at an aggregate value of R500 million, with the board of directors of Standard  
Bank Group ("the directors") reserving the right to accept all subscriptions,   
in whole or in part, up to a maximum of 10 000 000 preference shares, at an     
aggregate value of R1 billion.                                                  
Standard Bank Group is pleased to announce that 7 093 applications for          
35 776 749 preference shares were received in respect of the offer for          
subscription. The aggregate value of subscriptions in terms of the offer        
for subscription amounted to R3 577 674 900. The offer for subscription         
was 616% over-subscribed. The Company has decided to allocate the               
maximum number of preference shares being 10 000 000.                           
In dealing with the over-subscription, the following formula has been used      
as a basis of allocation:                                                       
* a minimum of 1 000 preference shares (R100 000) has been allocated to each    
applicant in terms of the requirements of the offer for subscription;           
* in addition, each applicant will receive 13.97% of his/her application in     
excess of 1 000 preference shares (R100 000), subject to a maximum allocation   
of 20 000 preference shares (R2 000 000) per single addressee acting as         
principal.  Multiple applications in respect of single addressees acting        
as principal have been consolidated.                                            
3. LISTING ON THE JSE SECURITIES EXCHANGE SOUTH AFRICA ("JSE")                  
The JSE has granted Standard Bank Group a listing of a maximum of 30 000 000    
preference shares in the Specialist Securities - "Preference Shares" sector     
on Wednesday, 7 July 2004. The condition precedent to the listing in respect    
of the requisite spread of shareholders, being a minimum of 50 (fifty) public   
preference shareholders (excluding employees and their associates), has been    
met.                                                                            
Preference shares will be allotted and issued to subscribers in the offer for   
subscription who applied for dematerialised preference shares on Wednesday,     
7 July 2004 against receipt of payment from their Central Securities            
Depository Participants.                                                        
Share certificates will be posted to certificated preference shareholders       
on or before Wednesday, 14 July 2004.                                           
4. PURCHASE OF PREFERENCE SHARES BY THE DIRECTORS OF STANDARD BANK              
GROUP                                                                           
In terms of section 3.63 of the JSE Listings Requirements the directors have    
participated in the offer for subscription and received the allocations as      
set out in the table below:                                                     
                         Number of                                              
                        preference    Aggregate value               Nature of   
Name of director            shares        (R)                        holding    
Doug Band

                     9 406         940 600           Direct beneficial
Elisabeth Bradley*             1 559         155 900         Indirect beneficial
Derek Cooper*                  1 140         114 000     Indirect non-beneficial
Trevor Evans*                  2 817       281 700        Direct beneficial     
Saki Macozoma

                 1 140       114 000             Direct beneficial

Jacko Maree (Chief Executive)  1 559       155 900        Direct beneficial     
Jacko Maree (Chief Executive)# 1 279         127 900     Indirect non-beneficial
Myles Ruck (Executive director)1 559       155 900       Direct beneficial      
Chris Stals*                   1 279       127 900       Direct beneficial      
* Independent non-executive director                                            


 Non-executive director                                                        
# Allocated to Mrs S Maree, wife of Jacko Maree                                 
In addition, Elisabeth Bradley , in her capacity as a trustee of a testamentary 
trust, has an indirect non-beneficial interest in 250 000 preference shares with
an aggregate value of R25 000 000 in the private placement.                     
Johannesburg                                                                    
6 July 2004                                                                     
Investment bank and joint sponsor                                               
   Standard Bank                                                                
Legal adviser                                                                   
Bowman Gilfillan Attorneys                                                   
Joint auditors                                                                  
   PriceWaterhouseCoopers                                                       
   KPMG                                                                         
Independent lead sponsor                                                        
   Deutsche Securities                                                          
Date: 06/07/2004 07:00:03 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department