Standard Bank Group - The Participation Of Black Non-Executive Directors In The

Standard Bank Group - The Participation Of Black Non-Executive Directors In The 
Introduction Of Direct Black Ownership In Standard Bank Group                   
Standard Bank Group Limited                                                     
(Incorporated in the Republic of South Africa)                                  
(Registration number 1969/017128/06)                                            
JSE share code: SBK   NSX share code: SNB                                       
ISIN: ZAE000057378                                                              
("Standard Bank Group")                                                         
THE PARTICIPATION OF BLACK NON-EXECUTIVE DIRECTORS IN THE INTRODUCTION OF DIRECT
BLACK OWNERSHIP IN STANDARD BANK GROUP                                          
1. CIRCULAR TO ORDINARY SHAREHOLDERS                                            
Standard Bank Group ordinary shareholders are referred to the announcements  
   dated 15 July 2004, 18 August 2004, 13 September 2004, 21 September 2004 and 
   29 September 2004 and the circular posted to ordinary shareholders on        
   18 August 2004 relating to Standard Bank Group"s proposal to facilitate      
the acquisition of an effective 10% interest in its South African banking    
   operations by broad-based black groupings ("the black ownership initiative").
   The participants of the black ownership initiative include black managers    
   trusts formed for the benefit of current and future black managers of        
Standard Bank Group ("the Managers Trusts").                                 
   In terms of the black ownership initiative, Standard Bank Group proposed that
   current and future black non-executive directors other than those who benefit
   in other aspects of the black ownership initiative should  be offered        
participation in the initiative as beneficiaries of the Managers Trusts.     
   A circular setting out the rationale for the inclusion of the black non-     
   executive directors, the applicable key terms and conditions relating to     
   their inclusion in the Managers Trusts and the notice of general meeting     
was posted to Standard Bank Group ordinary shareholders today.               
   The general meeting of Standard Bank Group shareholders will be held at      
   14:30 on Monday, 6 December 2004 in the HP de Villiers Auditorium,           
   Standard Bank Centre, 6 Simmonds Street, Johannesburg to consider and, if    
deemed fit, pass the ordinary resolutions, which approve the participation   
   of the black non- executive directors in the black ownership initiative,     
   as set out in the notice of general meeting.                                 
2. IMPORTANT DATES AND TIMES                                                    
2004 

   Last day to lodge forms of proxy for the general                             
   meeting by 14:30, on                                      Friday, 3 December 
   General meeting to be held at 14:30, on                   Monday, 6 December 
Announcement of results of general meeting on                                
   SENS, on                                                  Monday, 6 December 
   Announcement of results of general meeting in                                
   the press, on                                            Tuesday, 7 December 
Notes:                                                                       
   1. The abovementioned dates and times are subject to change. Any such change 
      will be released on SENS.                                                 
   2. If the general meeting is adjourned or postponed, forms of proxy must be  
received by no later than 24 hours prior to the time of the adjourned or  
      postponed general meeting.                                                
Johannesburg                                                                    
19 November 2004                                                                
Investment bank and joint sponsor                                               
STANDARD BANK                                                                   
Attorneys                                                                       
BOWMAN GILFILLAN                                                                
Independent lead sponsor                                                        
DEUTSCHE BANK                                                                   
Date: 19/11/2004 05:37:59 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department