Standard Bank- Results of a Private Placement of Preference Shares

Standard Bank- Results of a Private Placement of Preference Shares              
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)                                                            
(JSE share code: SBPP)                                                          
(ISIN: ZAE000056339)                                                            
("Standard Bank Group")                                                         
RESULTS OF A PRIVATE PLACEMENT OF 13 157 895 NON-REDEEMABLE, NON-CUMULATIVE, NON
PARTICIPATING PREFERENCE SHARES ("PREFERENCE SHARES") ("PRIVATE PLACEMENT")     
1.   INTRODUCTION                                                               
     Shareholders are referred to the announcement dated 5 May 2006 relating to 
     the proposed private placement of the preference shares amounting to       
between R1 billion and R2 billion during May 2006.                         
2.   RESULTS OF THE PRIVATE PLACEMENT                                           
     Standard Bank Group is pleased to announce that, in terms of the private   
     placement, 13 157 895 preference shares at an aggregate value of R1.5      
billion, were placed with institutional investors at a price of R114 per   
     share, at an effective 63% of prime.                                       
3.   LISTING ON THE JSE LIMITED ("JSE")                                         
     The JSE has granted Standard Bank Group a listing of the 13 157 895        
additional preference shares in the Specialist Securities - "Preference    
     Shares" sector with effect from Tuesday, 23 May 2006.                      
     The preference shares will be allotted and issued, against receipt of      
     payment from their Central Securities Depository Participants, to          
institutions who applied for preference shares, on Tuesday, 23 May 2006.   
4.   PURCHASE OF PREFERENCE SHARES BY THE DIRECTORS OF STANDARD BANK GROUP      
     In terms of section 3.63 of the JSE Listings Requirements, the directors   
     have participated in the private placement and received the allocations as 
set out in the table below:                                                
Name of directors                  Number of      Aggregate      Nature of      
                                   preference     value          holding        
                                   shares         (R)                           
D D B Band

                        2 193          250 002        Direct         

                                                                 beneficial     
E Bradley*                         26 316         3 000 024      Indirect       
                                                                 beneficial     
J H Maree (Chief Executive)        8 772          1 000 008      Direct         
                                                                 beneficial     
J H Maree (Chief Executive)#       1 755          200 070        Indirect       
                                                                 non-beneficial 
R P Menell*                        4 386          500 004        Direct         
                                                                 beneficial     
M J D Ruck+                        43 860         5 000 040      Direct         
                                                                 beneficial     
Dr. C B Strauss*                   17 544         2 000 016      Indirect       
                                                                 beneficial     
* Independent non-executive director                                            


 Non-executive director                                                        
+ Executive director                                                            
# Allocated to Mrs S Maree, wife of J H Maree                                   
The required clearance in terms of section 3.66 of the JSE Listings Requirements
was obtained.                                                                   
Johannesburg                                                                    
22 May 2006                                                                     
Investment bank and sponsor                                                     
Standard Bank                                                                   
Independent lead sponsor                                                        
Deutsche                                                                        
Date: 22/05/2006 11:32:05 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department