Capitalisation issue ratio with respect to the election for capitalisation shares in lieu of a cash dividend Standard Bank Group Limited (Incorporated in the Republic of South Africa) Registration number 1969/017128/06 JSE share code: SBK NSX share code: SNB ISIN: ZAE000109815 ("Standard Bank Group" or "the Company") ANNOUNCEMENT OF THE CAPITALISATION ISSUE RATIO WITH RESPECT TO THE ELECTION FOR CAPITALISATION SHARES IN LIEU OF A CASH DIVIDEND Standard Bank Group ordinary shareholders (“Shareholders”) are referred to the Company`s unaudited results for the six months ended 30 June 2012, as released on the Securities Exchange News Service (“SENS”) of the JSE Limited ("JSE") on Thursday, 16 August 2012 and published in the press on Friday, 17 August 2012, in which Shareholders were notified of the payment of an interim gross cash dividend of 212 cents per ordinary share (“the Cash Dividend”) to Shareholders recorded in the register of the Company at the close of business on Friday, 14 September 2012, or an election to receive capitalisation shares (“Capitalisation Shares”) in lieu of the Cash Dividend (“the Capitalisation Issue”) to be determined by the ratio that 212 cents bears to the volume weighted average price (“VWAP”) of the Company’s ordinary shares (“Ordinary Shares”) on the exchange operated by the JSE during the five-day trading period ending Thursday, 30 August 2012. Shareholders are further referred to the circular to Shareholders issued on Friday, 24 August 2012 which included the full details of the Cash Dividend and the Capitalisation Issue. Shareholders are hereby advised that the VWAP of the Ordinary Shares on the JSE during the five-day trading period ended Thursday, 30 August 2012 was 11142,413 cents. Accordingly, the number of Ordinary Shares to which Shareholders electing to participate in the Capitalisation Issue will be entitled, is determined in the ratio that 212 cents bears to 11142,413 cents which equates to 1,90264 new Ordinary Shares for every 100 Ordinary Shares held. Trading in the Strate Limited environment does not permit fractions and fractional entitlements. Accordingly, where a Shareholder`s entitlement to new Ordinary Shares, calculated in accordance with the above formula, gives rise to a fraction of a new Ordinary Share, such fraction of a new Ordinary Share will be rounded up to the nearest whole number where the fraction is greater than or equal to 0,5 and rounded down to the nearest whole number where the fraction is less than 0,5. Example of calculation of the Capitalisation Issue entitlement: This example assumes that a Shareholder holds 100 Ordinary Shares on the record date and elects to receive Capitalisation Shares. New Ordinary Share entitlement = 100 x 212 cents / 11142,413 cents = 1,90264 new Ordinary Shares Shareholders who wish to receive the Capitalisation Issue in respect of all or part of their shareholding must elect to do so in accordance with the provisions of the circular and form of election which was posted to Shareholders on Friday, 24 August 2012. The last day to elect to receive the Capitalisation Issue in lieu of the Cash Dividend is by 12:00 South African time on Friday, 14 September 2012. Shareholders who wish to receive the Cash Dividend of 212 cents per Ordinary Share need not take any action. A further announcement will be made on or about Monday, 17 September 2012 in respect of the results of the Capitalisation Issue. Johannesburg 31 August 2012 Lead Sponsor The Standard Bank of South Africa Limited Joint sponsor Deutsche Securities (SA) Proprietary Limited Sponsor in Namibia Simonis Storm Securities Proprietary Limited Date: 31/08/2012 11:06:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.