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 Grindrod Limited Share Instalment               
The Standard Bank of South Africa Limited                                       
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK GRINDROD LIMITED   
SHARE INSTALMENT                                                                
Prior Terms                                                                     
JSE Code Exercise  Conversion      Expiry    Exercise    ISIN Code              
Price      Ratio                    Style                            

GNDSIA    R20.50     1 for 1     05/05/2006  American   ZAE000066791            
                                               Call                             
Following the Grindrod Ltd ("GND") announcement of a 5 FOR 1 share split of GND,
the Issuer will amend the Terms and Conditions in the following way:            
The Adjustments                                                                 
On the 31ST October 2005, a new Exercise Price will be calculated, so that the  
effect of the adjustments will be that:                                         
The New Strike Price = (Old Strike/5)                                           
The conversion ratio will not change, but there will rather be an instalment    
split, whereby the holder of 1 GNDSIA share instalment will be converted to 5   
share instalments.                                                              
New Terms                                                                       
JSE Code Exercise  Conversion      Expiry    Exercise    ISIN Code              
           Price      Ratio                    Style                            
GNDSIA     R4.10     1 for 1     05/05/2006  American   ZAE000066791            
Call                             

The JSE Limited ("the JSE") Issuer Services Division has approved the adjustment
of the above-mentioned warrants, and the adjustments will be effective from 1   
November 2005.                                                                  
31 October 2005                                                                 
Date: 31/10/2005 12:57:05 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department