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Mon 19 Nov 2007, 9:06 SCIB - Standard Bank - Adjustments To The Terms An
JSE   FSRSBQFSRSBDFSRSBE
 SCIB                                                                            
SCIB - Standard Bank - Adjustments To The Terms And Conditions Of The           
                        Firstrand Ltd Warrants                                  
NOTICE OF ADJUSTMENT                                                            
The Standard Bank of South Africa Limited                                       
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE FIRSTRAND LTD WARRANTS           
Following the Firstrand Limited ("FSR") announcement of the unbundling of       
Discovery Holdings LTD ("DSY"), notice is hereby given to warrantholders of FSR 
warrants that the Issuer will amend the terms and conditions of the warrants as 
indicated below, to place the warrantholder in the same financial position they 
were prior to the unbundling.                                                   
Existing Terms                                                                  
JSE     Exercise Price   Conversion    Expiry       Exercise     ISIN CODES     
Code                     Ratio                      Style                       
FSRSBD  R24.00           7 for 1       14 Dec 2007  American     ZAE000099701   
                                                   Call                         
FSRSBE  R23.50           7 for 1       3 Apr 2007   American     ZAE000104907   
                                                   Call                         
FSRSBQ  R22.00           5 for 1       6 Mar 2007   European Put ZAE000104220   
New Terms                                                                       
JSE     Exercis   Conversion     Expiry        Exercise     ISIN CODES          
Code    e Price   Ratio                        Style                            
FSRSBD  R22.44    6.54 for 1     14 Dec 2007   American     ZAE000099701        
                                              Call                              
FSRSBE  R21.97    6.54 for 1     3 Apr 2007    American     ZAE000104907        
                                              Call                              
FSRSBQ  R20.57    4.67 for 1     6 Mar 2007    European Put ZAE000104220        
The JSE Limited Issuer Services Division has approved the adjustment of the     
above-mentioned warrants, and the Effective Date of the adjustment will be 19   
November 2007.                                                                  
This Notice together with the Common Terms Document, Conditions Annexure and the
relevant Supplements record the terms and conditions of the agreement between   
the Parties.  Any terms used in this Notice which are defined in the Common     
Terms Document and Conditions Annexure shall bear the meaning ascribed to them  
therein, unless specifically stated otherwise herein.  Other than as set out    
herein, the terms and conditions set out in the Common Terms Document,          
Conditions Annexure and relevant Supplements remain unchanged and in full force 
and effect.                                                                     
Copies of the warrant issue documentation may be obtained from:                 
The Standard Bank Of South Africa Limited.                                      
(Registration Number 1962/000738/06)                                            
3 Simmonds Street                                                               
Johannesburg                                                                    
2001                                                                            
For further information contact :                                               
Standard Bank Warrants                                                          
Tel 0800 111 780                                                                
e-mail: derivatives@standardbank.co.za                                          
Sponsor :                                                                       
Standard Financial Markets (Pty) Ltd                                            
(Registration Number: 1972/008305/07)                                           
An authorised user of the JSE Limited                                           
Date: 19/11/2007 09:06:08 Produced by the JSE SENS Department.                  
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