Disposal of Business

Standard Chartered PLC
07 March 2008



     STANDARD CHARTERED PLC - DISPOSAL OF INDIAN ASSET MANAGEMENT BUSINESS



 Standard Chartered to sell Standard Chartered Trustee Company Private Limited
        and Standard Chartered Asset Management Company Private Limited



Standard Chartered PLC ('Standard Chartered') announces that it has agreed to
sell Standard Chartered Trustee Company Private Limited and Standard Chartered
Asset Management Company Private Limited, including minorities, to
Infrastructure Development Finance Company Limited ('IDFC') for a total cash
consideration of approximately USD205 million.  The consideration is before
deductions for local taxes and deal expenses.



The companies mentioned above represent the mutual fund manufacturing business
of Standard Chartered in India.  The transaction does not include Standard
Chartered's mutual fund distribution business which Standard Chartered will
continue to pursue.



Jaspal Bindra, Chief Executive Officer, Asia, said: 'IDFC is a well respected
financial services company and we are delighted to have reached an agreement
with them for the sale of this business.  Standard Chartered will remain a
distributor of asset management products in India.  India is a key market and
delivered record results in 2007.'



This transaction is subject to certain regulatory approvals and other closing
conditions, and is expected to complete in the second quarter of 2008.





For further information, contact:





Investors

Piotr Zajac                              Ashia Razzaq
Senior Manager, Investor Relations       Head of Investor Relations, Asia Pacific
[phone]                      + 852 2820 3958
[e-mail]      [e-mail]



Press

Arijit De
Head of Media Relations
Tel: [phone]
[e-mail]









Note to Editors:



Standard Chartered PLC



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
through leading by example to be the right partner for its stakeholders. The
group now employs 73,000 people, representing 115 nationalities, in more than
1,700 branches and outlets located in over 70 countries.  The bank derives more
than 90 per cent of its operating income and 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



Infrastructure Development Finance Company Limited



Infrastructure Development Finance Company Limited ('IDFC') was incorporated in
1997 as a public limited company under the Companies Act, 1956. IDFC listed its
equity shares in India pursuant to an initial public offering in August 2005. As
at 31 December 2007, IDFC's shareholders included  the Government of India 20%,
foreign investors (including Government of Singapore, Khazanah Nasional Berhad,
IFC, AIG amongst others)  - 49% and public / others 31%. As of 5 March 2008,
IDFC's market capitalisation was approximately USD5.8 billion.



IDFC's existing businesses, directly and through its subsidiaries, include
project finance, principal investments, asset management (for third party
funds), investment banking, institutional broking (through IDFC-SSKI), and
advisory services.



-- ENDS --




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