SBK: Standard Bank Group Limited - Tier III Bond issue by SBSA

SBK: Standard Bank Group Limited - Tier III Bond issue by SBSA                  
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: ZAE000057378                                                              
Tier III Bond issue by SBSA                                                     
The Standard Bank of South Africa ("SBSA") has today placed a R600 million      
subordinated bond due in March 2007.  The bond (SBK6) qualifies as regulatory   
Tier III capital and was issued following the redemption of SBSA"s previous Tier
III capital bond (SBK4), which was redeemed on 15 February 2004.  The issue was 
placed through a formal Dutch auction process.                                  
The bond was launched at a spread of 35bps over the benchmark R194 bond to yield
a fixed semi-annual coupon of 7.70%.  This is equivalent to a spread of 37bps   
over 3 month JIBAR based on current swap rates.                                 
The bond was placed by Standard Bank Corporate and Investment Banking.          
The issue will be listed on the Bond Exchange of South Africa.  Details of the  
issue and salient allocation statistics are:                                    
- Launch date: 22 February 2005                                                 
- Settlement date: 28 February 2005                                             
- Bond Exchange code: SBK6                                                      
- Nominal: R600 million                                                         
- Maturity date: 01 March 2007                                                  
- Coupon: payable semi-annually, fixed at 7.70%                                 
- Status: Subordinated, qualifying Tier III capital issue                       
- Law: South African                                                            
- Denominations: R1 million                                                     
- Placement agent: Standard Bank of South Africa Limited                        
- Total value of bids received: R1.07 billion                                   
- Total number of bids received: 32                                             
- Total amount allocated: R600 million                                          
- Total number of bids allocated in full: 17                                    
- Total number of bids receiving partial allocations: 2                         
- Partial allocation percentage: 94%                                            
Johannesburg                                                                    
22 February 2005                                                                
Sponsor                                                                         
Standard Bank                                                                   
For further information, please contact:                                        
Simon Ridley (Chief Financial Officer) tel 011 636 3756; e-mail:                
simon.ridley@standardbank.co.za                                                 
Norbert Hoffmann (Director: Group Capital Management) tel 011 636 3712; e-mail: 
norbert.hoffmann@standardbank.co.za                                             
Date: 22/02/2005 01:04:14 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department