STANDARD BANK GROUP LIMITED - Retirement and Appointment of Non-Executive Directors

Retirement and Appointment of Non-Executive Directors

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: ZAE000109815
(“Standard Bank Group” or “the Company”)

RETIREMENT AND APPOINTMENT OF NON-EXECUTIVE DIRECTORS

In compliance with section 3.59 of the Listings Requirements
of the JSE Limited, Standard Bank Group announces the
resignation of Kaisheng Yang as the deputy chairman and non-
executive director of the board of directors of the Company
('the Board').

In his stead, the Board has appointed Mr. Shu Gu as the deputy
chairman and non-executive director with immediate effect.

This appointment is effected in terms of an agreement between
Industrial and Commercial Bank of China Limited ('ICBC'), a
20% shareholder in the Company and Standard Bank Group,
wherein ICBC is entitled to nominate two non-executive
directors for appointment to the Board, one of whom would
serve as deputy chairman.

Mr. Shu Gu has served as a Senior Executive Vice President of
ICBC since October 2013. He joined ICBC in March 1998 and has
served as Deputy General Manager of the Accounting and
Settlement Department and Deputy General Manager of the
Finance and Planning Department. In July 2006 he acted as the
Board Secretary of ICBC and in July 2008 was concurrently
appointed General Manager of Corporate Strategy and Investor
Relations. He became the Head of the ICBC Shandong Branch in
December 2010.

Mr. Shu Gu obtained a Bachelor’s degree in Engineering from
Shanghai Jiaotong University in 1990 and a Masters Degree in
Economics from Dongbei University of Finance and Economics in
1995.   He obtained his Doctorate from Shanghai University of
Finance and Economics in 1998.

Johannesburg
10 December 2014

Lead sponsor
The Standard Bank of South Africa Limited

Independent sponsor
Deutsche Securities (SA) Proprietary Limited
Namibian sponsor
Simonis Storm Securities (Proprietary) Limited

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