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Mon 10 Oct 2011, 9:33 SCIB - The Standard Bank of South Africa Limited - Adjustments to the terms and
JSE   FSRSBSFSRSBFFSRSBEFSRSBR
SCIB                                                                            
SCIB - The Standard Bank of South Africa Limited - Adjustments to the terms and 
conditions of the Standard Bank Firstrand Limited warrants                      
PRESS ANNOUNCEMENT                                                              
The Standard Bank of South Africa Limited                                       
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE STANDARD BANK FIRSTRAND LIMITED  
WARRANTS                                                                        
Prior Terms                                                                     
JSE     Exercise   Conversion   Expiry         Exercise Style    ISIN CODES     
Code    Price      Ratio                                                        
FSRSBE  R 20.50    5            02-Nov-11      American Call     ZAE000155263   
FSRSBF  R 20.00    4            01-Feb-12      American Call     ZAE000158986   
FSRSBR  R 19.00    5            06-Dec-11      European Put      ZAE000156337   
FSRSBS  R 19.00    7            03-Apr-12      European Put      ZAE000159505   
Following the Firstrand Limited ("FSR") announcement of a 70c special dividend  
of FSR, the Issuer will amend the Terms and Conditions in the following way to  
ensure that the financial position of the warrant holder is unprejudiced.       
New Terms                                                                       
JSE     Exercise   Conversion   Expiry         Exercise Style    ISIN CODES     
Code    Price      Ratio                                                        
FSRSBE  R 19.79    4.83         02-Nov-11      American Call     ZAE000155263   
FSRSBF  R 19.31    3.86         01-Feb-12      American Call     ZAE000158986   
FSRSBR  R 18.34    4.83         06-Dec-11      European Put      ZAE000156337   
FSRSBS  R 18.34    6.76         03-Apr-12      European Put      ZAE000159505   
The Issuer services division of the JSE Limited has approved the adjustment of  
the above-mentioned warrants, and the adjustments will be effective from 10     
October 2011.                                                                   
Date: 10/10/2011 09:33:01 Produced by the JSE SENS Department.                  
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