New Banking Subsidiary

Standard Chartered PLC
01 July 2004

Press Release



       STANDARD CHARTERED SETS UP LICENSED BANK INCORPORATED IN HONG KONG


(Hong Kong -- 1 July 2004) Standard Chartered PLC (the Group) today announces
the establishment of its new banking subsidiary, Standard Chartered Bank (Hong
Kong) Limited (SCBHK), a licensed bank incorporated in Hong Kong.


Effective today, the businesses of the following will be merged into SCBHK,
namely,

•       The Hong Kong branch of Standard Chartered Bank,

•       Manhattan Card Company Limited,

•       Standard Chartered Finance Limited,

•       Standard Chartered International Trade Products Limited and

•       Chartered Capital Corporation Limited


This incorporation underpins the Group's strategy for Greater China. It gives
the Group an opportunity to further capitalise on the business opportunities
created as a result of the closer economic integration between Hong Kong and
mainland China.

                                    - End -


For further enquiries please contact:


Paul Marriage          Head of Corporate Communications   + 44 (0)20 7280 7163

Caoimhe Buckley      Media Relations Manager              + 44 (0)20 7280 6170

Bethy Tam              Regional Head of Corporate Affairs + 852 2820 3812

Lavina Chan           Senior Corporate Affairs Manager    + 852 2820 3075


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 PLC 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, securities services, 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 Group combines deep local knowledge with
global capability.


The Group 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 END

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