AEB Acquisition Completed

Standard Chartered PLC
29 February 2008


              STANDARD CHARTERED COMPLETES ACQUISITION OF AMERICAN
                                  EXPRESS BANK

       ADDING CAPABILITY AND SCALE TO THE FINANCIAL INSTITUTIONS BUSINESS
                 AND FAST-TRACKING THE PRIVATE BANKING BUSINESS


29 February 2008

Further to the announcement made on 18 September 2007, Standard Chartered PLC
('Standard Chartered' or the 'Group') announces that it has received all the
required approvals and that the acquisition of American Express Bank Ltd.
('AEB') from American Express Company ('AXP') (the 'Transaction') completed
today. The total cash consideration for the acquisition is equal to the net
asset value of AEB at completion plus USD300 million.  As at 29 February 2008,
this amounts to approximately USD823 million (GBP413 million)(1).

The acquisition of AEB provides Standard Chartered with an opportunity to add
capability, scale and momentum in the strategically important Financial
Institutions and Private Bank businesses. It will further deepen Standard
Chartered's existing network and will provide access to a select number of new
growth markets.

As part of the Transaction Standard Chartered and AXP have entered into a put
and call option under which AXP can sell and Standard Chartered can buy 100% of
American Express International Deposit Company ('AEIDC') 18 months from today
with the consideration payable to AXP being the net asset value of AEIDC at the
time of exercise of the option.

The addition of the AEB business will fast-track The Standard Chartered Private
Bank growth aspirations, building immediate capability and scale in people,
product and processes.  AEB will enhance Standard Chartered's private banking
presence in its key markets, leveraging on its exceptional advantage to grow
market share and build scale in existing markets like Singapore, Hong Kong,
India and The Middle East.  It will also add capability in trust, fiduciary
services, margin trading, wraps, and extend geographic reach with new booking
centres in Geneva, Monaco, Miami, New York and London.

AEB will help accelerate Standard Chartered's Financial Institutions business
and significantly enhance its capabilities in this core customer segment. This
acquisition doubles Standard Chartered's US Dollar clearing business reinforcing
its position among the leading US Dollar clearing businesses and ranking the
group sixth globally. In addition, AEB provides Standard Chartered with a direct
Euro and Yen clearing capability. The extended geographic reach into new
countries and deepening of Standard Chartered's presence in key existing markets
will capture more trade and investment flows.

Peter Sands, Group Chief Executive, Standard Chartered PLC said: 'I welcome the
American Express Bank employees into the Standard Chartered family.  The AEB
business brings along an exceptional management team and I look forward to them
playing an important role in the Group.'

CONTACTS

Investors

Stephen Atkinson                                                 Ashia Razzaq
Head of Investor Relations                                      Head of Investor
Relations, Asia Pacific
[phone]                                             + 852 2820 3958
[e-mail]
[e-mail]


Press

Tim Baxter                                                           Arijit De
Head of External Communications                          Head of Media Relations
+ 44 (0)20 7457 5573                                            [phone]
7163
[e-mail]
[e-mail]

BUSINESS DESCRIPTION

Standard Chartered PLC, listed on both the London Stock Exchange and the Hong
Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market
capitalisation. The London-headquartered Group has operated for over 150 years
in some of the world's most dynamic markets, leading the way in Asia, Africa and
the Middle East.  Its income and the number of employees have more than doubled
over the last five years primarily as a result of organic growth and
supplemented by acquisitions.

Standard Chartered aspires to be the best international bank in its markets by
being the right partner for its stakeholders and leading by example. The Group
now employs over 70,000 people, representing some 115 nationalities, in more
than 1,600 branches and outlets located in over 70 countries.  The bank
generates more than 90 per cent of its profits from Asia, Africa and the Middle
East, with balanced income derived from both Wholesale and Consumer Banking.

The Group is committed to building a sustainable business over the long term and
is trusted worldwide for upholding high standards of corporate governance,
social responsibility, environmental protection and employee diversity. For more
information, please visit: www.standardchartered.com

American Express Bank Ltd. is the international banking subsidiary of American
Express Company.  Founded in 1919, it provides services to financial
institutions, high net worth individuals and affluent customers through more
than 74 locations in 47 countries.

American Express International Deposit Company is based in the Cayman Islands
and issues short-term, fixed rate certificates of deposit to AEB customers.


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(1) Based on an exchange rate of USD  1.9908 : GBP £1


                      This information is provided by RNS
            The company news service from the London Stock Exchange