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Mon 17 Nov 2008, 12:02 SCIB: The Standard Bank of South Africa - Adjustments To The Terms And
JSE   REISTCREISTB
SCIB                                                                            
SCIB:  The Standard Bank of South Africa - Adjustments To The Terms And         
Conditions Of The Standard Bank Reinet Investments SCA Share Instalments        
The Standard Bank of South Africa Limited                                       
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK REINET INVESTMENTS 
SCA SHARE INSTALMENTS                                                           
Following the REINET INVESTMENTS SCA ("REI") Rights Offer announcement, REI     
share holders will receive rights to convert BTI shares into REI shares.        
Following this announcement, notice is hereby given that the terms of the REISTB
and REISTC share instalments will be adjusted to place the share instalment in  
the same financial position they were prior to the rights offer ex-date.        
The following share instalments will be affected by this corporate action:      
Existing Terms                                                                  
ISIN           JSE Code    Exercise    Conversion   Expiry     Exercise         
                        Price       Ratio                  Style                
ZAE000128682   REISTB      R11.18      1:1          04-Jun-    American         
2009       Call                  
ZAE000128252   REISTC      R10.54      1:1          22-Sep-    American         
                                               2009       Call                  
New Terms                                                                       
ISIN           JSE Code    Exercise    Conversion   Expiry     Exercise         
                        Price       Ratio                  Style                
ZAE000128682   REISTB      R8.74       1:1          04-Jun-    American         
                                               2009       Call                  
ZAE000128252   REISTC      R7.91       1:1          22-Sep-    American         
                                               2009       Call                  
The last day to trade before this adjustment is made will be 14th November 2008.
The Effective Date of the adjustment shall be 17th November 2008.               
The JSE Limited (JSE) Issuer Services Division has approved the adjustment of   
the above-mentioned share instalments.                                          
This Notice together with the Common Terms Document and Conditions Annexure     
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, Conditions  
Annexure and the relevant Supplements 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.                                                                     
Please note that Share Instalments are subject to selling restrictions and      
prospective purchases are referred to the relevant Conditions Annexure for      
details of such restrictions.                                                   
Date: 17/11/2008 12:02:03 Produced by the JSE SENS Department.                  
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