Disposal

Standard Chartered PLC
08 January 2004


                      STANDARD CHARTERED DISPOSAL OF STAKE
                                                                  8 January 2004


Standard Chartered today sold its 0.4% shareholding (45.4 million shares) in
Bank of China's subsidiary, BOC Hong Kong (Holdings) Limited (BOC HK). The
shares were acquired at the time of BOC HK's initial listing on the Stock
Exchange of Hong Kong in July 2002 at a price of HK$ 8.50 per share. The shares
were placed today by Cazenove Asia to institutional clients at HK$ 14.75 per
share.

Peter Wong Tung Shun, a Director of Standard Chartered Bank (the Group's
principal operating company) and CEO of its Hong Kong and China business said:
'Standard Chartered was delighted to support the IPO of BOC HK and continues to
enjoy a close relationship with Bank of China both in Hong Kong and China. We
will continue to work with the Management of the BOC Group to develop areas of
mutual benefit.'

Mr Wong added: 'Standard Chartered intends to use the proceeds to further its
organic growth, particularly in China'.



                           www.standardchartered.com


For further information please contact:

Paul Marriage   Head of Media Relations                      [phone]

Bethy Tam       Head of Corporate Affairs, Hong Kong         [phone]

Caoimhe Buckley Media Relations Manager                      [phone]

Lavina Chan     Senior Corporate Affairs Manager, Hong Kong  [phone]


Note to Editors:


   Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered employs 30,000 people in over 500 locations in more than 50
countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the
United Kingdom and the Americas. It is one of the world's most international
banks, with a management team comprising 70 nationalities.

Standard Chartered is listed on both the London Stock Exchange and the Stock
Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market
capitalisation.

It serves both Consumer and Wholesale Banking customers. Consumer Banking
provides credit cards, personal loans, mortgages, deposit taking and wealth
management services to individuals and small to medium sized enterprises.
Wholesale Banking provides corporate and institutional clients with services in
trade finance, cash management, lending, custody, foreign exchange, debt capital
markets and corporate finance.


Standard Chartered is well-established in growth markets and aims to be the
right partner for its customers. The Bank combines deep local knowledge with
global capability.

The Bank is trusted across its network for its standard of governance and its
commitment to making a difference in the communities in which it operates.


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