Standard Bank Group Limited - Annual General Meeting

Standard Bank Group Limited - Annual General Meeting                            
Standard Bank Group Limited(Incorporated in the Republic of South               
Africa)(Registration number 1969/017128/06)South African Share Code: SBKNamibian
Share Code: SNBISIN: ZAE000057378                                               
Comments at Annual General Meeting 25 May 2005                                  
Standard Bank Group ("SBG" or "the company") announces the following in relation
to the Annual General Meeting held today.                                       
Chief executive Jacko Maree made the following comments regarding the group"s   
performance for the first four months of 2005 at the company"s annual general   
meeting today:-     Domestic Banking continues to enjoy strong retail asset     
growth and credit                                                               
loss experience was better than expected. Some increase in early arrears   
     within the retail portfolio has however been noted recently and, although  
     not unexpected, is being closely monitored. Retail asset growth continues  
     to be funded mainly through wholesale deposits, which is placing some      
pressure on net interest margins.                                          
-    Africa"s earnings continue to grow satisfactorily, driven by a larger      
     customer base and increased transactional volumes.                         
-    International"s dollar earnings to date are below those of the prior year  
with most of its businesses experiencing pricing and margin pressure in a  
     highly competitive environment.                                            
-    Shareholders are referred to the Liberty Life market update on             
     23 May 2005 wherein it was stated that "the operating environment remained 
challenging for the industry in the first quarter although Liberty Life"s  
     new business sales continued along the trend experienced towards the latter
     stages of 2004" and provisional results for this period reflect an improved
     contribution to group earnings.                                            
-    The group"s primary financial objectives for 2005 remain unchanged at a    
     normalised return on equity of 22,5% and normalised headline earnings per  
     share growth of inflation (CPIX) plus 10 percentage points. Normalised     
     results reflect the legal substance of the group"s Black Ownership         
Initiative implemented in 2004.                                            
Johannesburg25 May 2005                                                         
Sponsor                                                                         
Standard Bank                                                                   
Date: 25/05/2005 11:11:08 AM Supplied by www.sharenet.co.za                     
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