Country specific information¹

Botswana. We have six points of representation in Botswana to offer universal banking solutions. We hold about 10% of the overall market share.

Our operations contributed to the counsellor training programme of LifeLine Botswana, which focuses on providing counselling services to people in need of emotional and psychological support, especially people living with HIV/Aids or disabilities.

We continued to sponsor the Botswana Red Cross, Cancer Association of Botswana, Down’s Syndrome Association of Botswana, Men Against Violence and Abuse and Reach for a Dream, among other community welfare programmes.

Congo (DRC). We currently operate one office in the DRC to offer cash management services to corporate clients, multilateral and bilateral institutions and non-governmental organisations. We operate a wholesale bank only in the Congo.

We sponsored a soccer match for homeless children with the German Embassy in DRC.

Ghana. We are represented in the Ghanaian cities of Accra and Kumasi and at the Tema fishing harbour. Our business serves large and small businesses and high-net-worth individuals in Ghana.

We are aiming to increase our share of the Ghanaian banking market. We intend to have eight service centres operating by the end of 2005 to expand our accessibility and visibility to a more diversified customer base. In time, we plan to introduce two additional key products, home loans and EPlan accounts, and to lower customer entry barriers.

We supported Nepad programmes, as well as projects to promote gender equality and environmental conservation.

Kenya. We currently operate five points of representation in Kenya to serve corporate clients and high-net-worth individuals and businesses. Our brand is well known in Kenya and enjoys a 73% spontaneous brand awareness among corporate clients and a 57% awareness among retail customers.

We supported the Junior Achievement programme that has been designed to help young Kenyans enhance their understanding of the working world and make informed decisions about their careers.

Lesotho. We currently operate two businesses in Lesotho: Standard Bank and Lesotho Bank 1999. Together there are 20 points of representation and the two banks hold about 60% of the overall banking market.

We continue to present training courses for owners of small businesses and we are compiling an SME directory to help emerging and established businesses to network and promote one another.

Malawi. Standard Bank acquired 60% of the Commercial Bank of Malawi in December 2001. The bank is now trading as Stanbic Bank. We currently have 19 points of representation and hold about 26% of the Malawian banking market. We serve both the retail and the wholesale markets. Our executive banking offering for high-net-worth individuals has been particularly well received in this market. During 2004, we completed a project to expand our ATM network from 14 to 25 machines.

In 2005, we intend to open another two ATMs in high-traffic areas and to introduce a mobile sales force to bring banking to the people. We have opportunities to increase our market share and we shall be introducing new products, including VISA credit and debit cards, as well as credit facilities for individual Malawians.

We sponsored community initiatives, including Malawi Against Polio, the Malawi Network for Aids Service Organisation, the Malawi Red Cross and the Special Olympics of Malawi.

Mozambique. We currently have 25 points of representation in Mozambique to offer universal banking services to the retail and the wholesale markets. The group recently increased its minority holding to a controlling stake in Banco Standard Totta. The bank changed its name to Standard Bank s.a.r.l Mozambique in 2004. We hold about 20% of the Mozambican banking market.

Shortly before the end of 2004, we introduced a range of bancassurance products, as well as business banking facilities. In 2005, we intend to implement a new ATM strategy to reduce transaction fees, provide international accessibility and encourage unbanked individuals to open low-cost banking accounts. We are aiming to open another two branches and a further 45 000 new accounts in 2005. We also intend to enhance the banking services offered to South African companies investing in Mozambique.

Namibia. We currently operate 40 points of representation in Namibia to offer universal banking services to customers in the wholesale and retail markets. We are well known and well established in these markets, having been in the country for almost 90 years. We are the second largest bank in these markets.

Our Namibian operations supported a wide range of social projects in the fields of education, health and safety, entrepreneurial development, national heritage and environmental conservation.

Nigeria. We operate a small business in Nigeria with five points of representation to serve businesses, large corporations and high-net-worth individuals. The Nigerian banking market is highly contested with more than 80 commercial banks. We are currently investigating opportunities to grow our business organically or by acquiring other banking operations.

Our Nigerian banking operations made donations to support non-governmental organisations and community projects, including the Bethesda Child Support Agency, the Nigerian Red Cross Society, the Nigeria Legion and the Handicapped Affairs Association of Nigeria.

Swaziland. We currently operate ten points of representation and hold about 45% of the Swazi banking market. The business offers universal banking services to customers in the wholesale and retail markets.

Our Swazi operations contributed to the Inhlanyelo Fund that provides loan capital to promote the development of viable micro projects in the informal business sector.

Tanzania. Our Stanbic Bank business in Tanzania is essentially wholesale, but has in recent years been experiencing rapid growth in the retail market. We currently operate nine points of representation in Tanzania.

We donated funds to a programme in Dar es Salaam devoted to sheltering, feeding and educating street children, many of whom have been orphaned by Tanzania’s Aids pandemic.

Uganda. We enhanced our Ugandan business by acquiring 80% of the Uganda Commercial Bank in January 2002. The bank is currently trading as Stanbic Bank. We currently operate 65 points of representation and have 76 ATMs in Uganda. We offer universal banking services to customers in the retail and wholesale markets.

We continued to sponsor the Kampala Kids’ League, a voluntary organisation established in 1997 to promote sporting skills, recreational involvement and team spirit among children.

Zambia. We currently operate ten points of representation and hold about 9% of the Zambian banking market. We serve businesses, larger corporations and high-net-worth individuals.

We continued to support various children’s charities and projects, including orphans and children with disabilities.

Zimbabwe. We operate 16 points of representation in Zimbabwe where we continue to target the lower and middle retail markets. We have experienced good growth from these segments recently, as more customers prefer the stability offered by international and other foreign-based banks. We hold about 15% of the Zimbabwean banking market and currently remain focused on servicing more densely populated areas.

During the last quarter of 2004, we launched our executive banking operations to target high-net-worth Zimbabweans. In 2005, we intend to introduce a more modern range of products, including international and local credit cards.

We continued to support various initiatives aimed at promoting and developing SME business and leadership skills, as well as projects to provide borehole water and energy.