STANDARD BANK GROUP - SANCTIONING OF THE SCHEME OF ARRANGEMENT

STANDARD BANK GROUP - SANCTIONING OF THE SCHEME OF ARRANGEMENT                  
STANDARD BANK GROUP LIMITED                                                     
(Incorporated in the Republic of South Africa)                                  
(Registration number 1969/017128/06)                                            
JSE Share code: SBK                                                             
Namibian share code: SNB                                                        
ISIN: ZAE000038873                                                              
("Standard Bank Group" or "the Company")                                        
SANCTIONING OF THE SCHEME OF ARRANGEMENT                                        
Further to the announcements dated 15 July 2004, 18 August 2004 and 13 September
2004 relating to the proposed facilitation by Standard Bank Group of the        
acquisition of an effective 10% interest in its South African banking operations
by a broad-based grouping of black entities, Standard Bank Group ordinary       
shareholders are advised that the scheme of arrangement ("the scheme") in terms 
of section 311 of the Companies Act (Act 61 of 1973), as amended, proposed by   
six wholly-owned subsidiaries of Standard Bank Group and the trustees of the    
Standard Bank Group General Staff Share Trust, between Standard Bank Group and  
its ordinary shareholders, was sanctioned by the High Court of South Africa     
(Witwatersrand Local Division) today, being Tuesday, 21 September 2004.         
The remaining condition precedent is that a certified copy of the Order of Court
sanctioning the scheme be registered by the Registrar of Companies.  It is      
expected that a certified copy of the Order of Court will be lodged with the    
Registrar of Companies on Wednesday, 22 September 2004.                         
It is expected that the scheme will be implemented according to the timetable   
contained in the announcements dated 18 August 2004 and 13 September 2004.      
Ordinary shareholders are reminded that the operative date of the scheme is     
expected to be Monday, 4 October 2004.                                          
Johannesburg                                                                    
21 September 2004                                                               
Investment bank and joint sponsor                                               
   Standard Bank                                                                
Independent financial adviser                                                   
   JP Morgan                                                                    
Independent lead sponsor                                                        
   Deutsche Securities                                                          
Attorneys                                                                       
   Bowman Gilfillan                                                             
Joint independent reporting accountants                                         
   KPMG                                                                         
and                                                                          
   PricewaterhouseCoopers                                                       
Date: 21/09/2004 04:01:27 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department