Standard Bank Group Limited - Private placement of preference shares

     Standard Bank Group Limited - 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                                                         
     Private placement of preference shares                                     
     The Standard Bank Group maintains appropriate levels of capital            
consistent with the risk profile of business undertaken, anticipated       
     growth in risk-weighted assets and possible acquisitions.  Non-            
     redeemable, non-cumulative preference shares form an integral part of the  
     group"s capital structure; and these shares are issued periodically to     
maintain a cost effective tier I capital base.                             
     Accordingly, the group intends to privately place further preference       
     shares to selected investors at an effective 70% of prime interest rate.   
     It is anticipated that (subject to demand) between R500 million and R1     
billion of preference shares will be issued pursuant to this placement     
     which is expected to close on 1 December 2006.                             
     For further information, please contact:                                   
     Norbert Hoffmann (Director: Group Capital Management) tel 011 636 3712; e- 
mail: norbert.hoffmann@standardbank.co.za                                  
     Simon Ridley (Chief Financial Officer) tel 011 636 3756; e-mail:           
     simon.ridley@standardbank.co.za                                            
     1 November 2006                                                            
Sponsor                                                                    
     Standard Bank                                                              
Date: 01/11/2006 01:50:04 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department