The Standard Bank Of South Africa Limited - Adjustments To The Terms And

The Standard Bank Of South Africa Limited - Adjustments To The Terms And        
Conditions Of The Standard Bank Telkom Group Limited Warrant                    
PRESS ANNOUNCEMENT                                                              
The Standard Bank of South Africa Limited                                       
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK TELKOM GROUP       
LIMITED WARRANT                                                                 
Prior Terms                                                                     
JSE     Exercise   Conversi  Expiry   Exercise                                  
Code    Price      on Ratio           Style                                     
TKGSBH  R105.00    25 for 1  14/07/2  American                                  
                             005      Call                                      
TKGSBI  R125.00    25 for 1  12/09/2  American                                  
                             005      Call                                      
TKGSBJ  R115.00    30 for 1  14/11/2  American                                  
                             005      Call                                      
Following the Telkom Group Limited ("TKG") announcement of a 500c special       
dividend of TKG , the Issuer will amend the Terms and Conditions in the         
following way to ensure that the financial position of the warrant holder is    
unprejudiced.                                                                   
After the adjustment, a holder of 1 TKGSBH Call Warrant will have the right to  
purchase 0.0418 TKG shares at an Exercise Price of R100.44, a total cash outlay 
of R4.2 per warrant.                                                            
New Terms                                                                       
JSE     Exercise   Conversi  Expiry   Exercise                                  
Code    Price      on Ratio           Style                                     
TKGSBH  R100.44    23.91or   14/07/2  American                                  
                   1         005      Call                                      
TKGSBI  R119.57    23.91     12/09/2  American                                  
                   for 1     005      Call                                      
TKGSBJ  R110.01    28.61     14/11/2  American                                  
                   for 1     005      Call                                      
The JSE Securities Exchange South Africa ("the JSE") Listings Division has      
approved the adjustment of the above-mentioned warrants, and the adjustments    
will be effective from 27 June 2005.                                            
Date: 27/06/2005 10:11:01 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department