SBK - Standard Bank - Chief Executive`s comments at AGM 29 May 2007

SBK - Standard Bank - Chief Executive`s comments at AGM 29 May 2007             
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                                                              
Chief Executive`s comments at Annual General Meeting 29 May 2007                
At the Annual General Meeting held today Chief Executive Jacko Maree made the   
following comments regarding key features of the group`s performance for the    
first four months of 2007 in comparison with the same period for 2006:          
"Revenues across the group reflect healthy growth, both in net interest income  
and non-interest revenue. Net interest income reflects the benefit of stable    
margins and the continued momentum of growth in loans and advances. Non-interest
revenue is growing strongly due mainly to robust transactional growth and       
increased trading revenue in corporate and investment banking.                  
Credit default experience is broadly in line with that of 2006 while impairment 
charges are within expectations, taking into account the strong growth in loans 
and advances.                                                                   
Shareholders are referred to the Liberty Life market update on 24 May 2007      
wherein it was stated that "favourable equity markets buoyed the operational    
performance of both the life and asset management businesses during the period" 
and "life assurance retail sales for the period were good and continue to       
improve".                                                                       
All of the group`s 2007 financial objectives as set out in the 2006 annual      
report were achieved for the first four months of 2007.                         
This information has not been reviewed and reported on by the Group`s auditors."
Johannesburg                                                                    
29 May 2007                                                                     
Sponsor                                                                         
Standard Bank                                                                   
Date: 29/05/2007 10:17:01 Supplied by www.sharenet.co.za                     
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