SCIB - Standard Bank - Adjustments to the terms and conditions of the Standard

SCIB - Standard Bank - Adjustments to the terms and conditions of the Standard  
Bank Telkom Group Limited Warrant                                               
The Standard Bank of South Africa Limited                                       
PRESS ANNOUNCEMENT                                                              
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK TELKOM GROUP       
LIMITED WARRANT                                                                 
Prior Terms                                                                     
JSE Code  Exercise    Conversion  Expiry       Exercise       ISIN CODES        
         Price       Ratio                    Style                             
TKGSBC    R150.00     35 for 1    3 Jul 2007   American Call  ZAE000066304      
TKGSBD    R180.00     35 for 1    2 Aug 2007   American Call  ZAE000093100      
TKGSBY    R150.00     28 for 1    2 Aug 2006   European Put   ZAE000092839      
Following the Telkom Group Limited ("TKG") announcement of a 500c special       
dividend of TKG, the Issuer will amend the Terms and Conditions in the following
way to ensure that the financial position of the warrant holder is unprejudiced.
New Terms                                                                       
JSE Code  Exercise    Conversion   Expiry       Exercise       ISIN CODES       
         Price       Ratio                     Style                            
TKGSBC    R145.61     33.98 for 1  3 Jul 2007   American Call  ZAE000066304     
TKGSBD    R174.74     33.98 for 1  2 Aug 2007   American Call  ZAE000093100     
TKGSBY    R145.61     27.18 for1   2 Aug 2006   European Put   ZAE000092839     
The Issuer services division of the JSE Limited has approved the adjustment of  
the above-mentioned warrants, and the adjustments will be effective from 2 July 
2007.                                                                           
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Date: 02/07/2007 11:22:08 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.