Announcement of the capitalisation issue ratio with respect to the election for capitalisation shares 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 INSTEAD OF A CASH DIVIDEND Standard Bank Group ordinary shareholders (“Shareholders”) are referred to the Company`s audited results for the year ended 31 December 2012, as released on the Stock Exchange News Service (“SENS”) of the JSE Limited ("JSE") on Thursday, 7 March 2013 and published in the press on Friday, 8 March 2013, in which Shareholders were notified of the payment of a final gross cash dividend of 243 cents per ordinary share (“the Cash Dividend”) to Shareholders recorded in the register of the Company at the close of business on Friday, 19 April 2013. Shareholders have an option to elect to receive capitalisation shares (“Capitalisation Shares”) instead of the Cash Dividend. Where Shareholders elect to receive Capitalisation Shares this is defined as “the Capitalisation Issue”, to be determined by the ratio that 243 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, 4 April 2013. Shareholders are further referred to the circular to Shareholders issued on Friday, 22 March 2013 which included the full details of the Cash Dividend and the Capitalisation Issue (“the Circular”). Shareholders are hereby advised that the VWAP of the Ordinary Shares on the JSE during the five-day trading period ended Thursday, 4 April 2013 was 11863.044 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 243 cents bears to 11863.044 cents which equates to 2.04838 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 only. New Ordinary Share entitlement = 100 x 243 cents / 11863.044 cents = 2.04838 new Ordinary Shares, which in this example would be rounded down to 2 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, 22 March 2013. The last day to elect to receive the Capitalisation Issue instead of the Cash Dividend is by 12:00 South African time on Friday, 19 April 2013, unless otherwise indicated by your Central Securities Depository Participant or broker. Shareholders who wish to receive the Cash Dividend of 243 cents per Ordinary Share need not take any action. A further announcement will be made on or about Monday, 22 April 2013 in respect of the results of the Capitalisation Issue. Johannesburg 5 April 2013 Lead Sponsor The Standard Bank of South Africa Limited Independent Sponsor Deutsche Securities (SA) Proprietary Limited Sponsor in Namibia Simonis Storm Securities (Proprietary) Limited, member of the Namibian Stock Exchange Date: 05/04/2013 10:36:00 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.