Standard Bank Group Limited - Tier II Bond Issue By SBSA

Standard Bank Group Limited - Tier II 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 II Bond Issue By SBSA                                                      
The Standard Bank of South Africa Limited (SBSA) today placed a R3 billion      
subordinated bond due in May 2020 and callable in May 2015.  The issue, which   
was well supported, qualifies as regulatory Tier II capital and serves to       
maintain SBSA"s level of capital adequacy at prudent levels in view of current  
growth in assets and the expected redemption of R2.7 billion of Tier II capital 
during 2005.                                                                    
The new bond (SBK7) was launched at a spread of 110bps over the benchmark R157  
bond to yield a fixed semi-annual interest coupon of 9.63%.                     
The bond was placed by Standard Bank acting through its Corporate and Investment
Banking Division and Deutsche Bank AG, Johannesburg Branch.                     
The issue will be listed on the Bond Exchange of South Africa.  Details of the  
bond issue are:                                                                 
*    Launch Date: 17 May 2005                                                   
*    Settlement Date: 24 May 2005                                               
*    Bond Exchange Code: SBK7                                                   
*    Nominal: R3 billion                                                        
*    Maturity Date: 24 May 2020                                                 
*    Coupon: Fixed at 9.63% until 24 March 2015, thereafter floating at 3-month 
     JIBAR plus 197bps until maturity                                           
*    Issuer"s call: 24 May 2015 or any interest payment date thereafter at the  
     nominal amount.  Issuer calls on Tier II bonds are subject to prior written
     approval by the Registrar of Banks                                         
*    Status:  Subordinated, qualifying Tier II capital issue                    
*    Law:  South African                                                        
*    Denominations:  R1 million                                                 
*    Placement Agents: Standard Bank of South Africa Limited acting through its 
     Corporate and Investment Banking Division and Deutsche Bank AG,            
Johannesburg Branch                                                        
*    Underwriter: Deutsche Bank AG, Johannesburg Branch                         
For further information please contact:                                         
Norbert Hoffmann, Director, Group Capital Management, Tel: 011 636 3712; E-mail:
norbert.hoffmann@standardbank.co.za                                             
Simon Ridley, Chief Financial Officer, Tel: 011 636 3756; E-mail:               
simon.ridley@standardbank.co.za                                                 
Date: 17/05/2005 02:10:06 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department