Issue of Debt

RNS Number:2965B
Standard Bank of South Africa Ltd
01 August 2007



FOREIGN CURRENCY TIER 2 NOTES ISSUE BY SBSA



Standard Bank Group Limited, listed on the JSE Limited ("JSE"), whose major
subsidiary is The Standard Bank of South Africa Limited ("SBSA"), today released
an announcement related to a foreign currency tier 2 notes issue by SBSA, as
required by the Listings Requirements of the JSE.   The text of the announcement
is as follows:



"SBK: STANDARD BANK GROUP LIMITED - FOREIGN CURRENCY TIER 2 NOTES ISSUE BY SBSA



Standard Bank Group Limited
Incorporated in the Republic of South Africa
Registration number: 1969/017128/06
JSE Share code: SBK
Namibian Share code: SNB
ISIN: ZAE000057378



The Standard Bank of South Africa Limited (SBSA) has privately placed $355
million sub-ordinated notes with US institutional investors.  This is SBSA's
inaugural foreign tier 2 capital issue.  The notes are divided into a fixed rate
tranche of $230 million issued at 140bps over 5 year US Treasuries and a
floating rate tranche of $125 million issued at 88bps over LIBOR.  The notes
were issued as part of the bank's capital management programme.



The bonds were placed by Banc of America Securities LLC and Standard New York
Inc.



Details of the bond issues are:



Fixed rate tranche:

- Closing Date: 31 July 2007

- Nominal: $230 million

- Maturity Date: 31 July 2017

- Coupon: Fixed at 6.44% until and including 31 July 2012, thereafter floating
  at 3-month LIBOR plus 188bps until maturity

- Issuer's call: 31 July 2012 or any interest payment date thereafter at the
  nominal amount, subject to the prior written approval by the Registrar of Banks

- Status: Subordinated, qualifying Tier 2 capital notes

- Law: New York

- Placement Agents: The Banc of America Securities LLC and Standard New York
  Inc.

- The notes are not listed



Floating rate tranche

- Closing Date: 31 July 2007

- Nominal: $125 million

- Maturity Date: 31 July 2017

- Coupon: Floating at 3-month LIBOR rate plus 88bps until and including 31 July
2012, thereafter floating at 3-month LIBOR plus 188bps until maturity

- Issuer's call: 31 July 2012 or any interest payment date thereafter at the
  nominal amount, subject to the prior written approval by the Registrar of Banks

- Status: Subordinated, qualifying Tier 2 capital notes

- Law: New York

- Placement Agents: The Banc of America Securities LLC and Standard New York Inc

- The notes are not listed



For further information please contact:

Norbert Hoffmann, Director, Group Capital Management, Tel: [phone];
E-mail:  [e-mail]

Simon Ridley, Chief Financial Officer, Tel: [phone]; E-mail:
[e-mail]



Sponsor
Standard Bank"




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