Standard Bank - Standard Bank in discussions with IBTC Chartered Bank in Nigeria

Standard Bank - Standard Bank in discussions with IBTC Chartered Bank in Nigeria
Standard Bank Group Limited                                                     
(Incorporated in the Republic of South Africa)                                  
(Registration number 1969/017128/06)                                            
South African Share Code: SBK                                                   
Namibian Share Code: SNB                                                        
ISIN: ZAE000057378                                                              
("Standard Bank")                                                               
Standard Bank in discussions with IBTC Chartered Bank                           
Standard Bank has entered into discussions with IBTC Chartered Bank in Nigeria  
in respect of a proposed merger of IBTC Chartered Bank and Stanbic Bank Nigeria 
and Standard Bank acquiring a controlling interest in the combined entity.      
Discussions are at an early stage and further announcements will be made as and 
when appropriate.                                                               
About IBTC Chartered Bank                                                       
IBTC obtained its banking license in February 1989 and was listed on The        
Nigerian Stock Exchange in April 2005. In December 2005, IBTC merged with       
Chartered Bank and Regent Bank.  On that date all the assets, liabilities and   
undertakings including real properties and intellectual property rights of      
Chartered Bank and Regent Bank were transferred to IBTC which was the surviving 
entity.  The name of the enlarged Bank was later changed in early 2006 to IBTC  
Chartered Bank Plc.                                                             
With shareholders" funds of N33 billion (USD258 million), a market              
capitalisation in excess of N75 billion (USD 586 million) and total assets of   
approximately N110 billion (USD 859 million), IBTC has a network of 56 branches 
spread in the six geopolitical Zones of Nigeria and about 750 employees.        
IBTC is a truly universal bank which has product offerings that comprise        
Corporate and Investment Banking, Asset Management, Private Banking and Retail  
Banking.                                                                        
27 September 2006                                                               
Sponsor                                                                         
Standard Bank                                                                   
Date: 27/09/2006 01:54:13 PM Supplied by www.sharenet.co.za                     
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