Standard Chartered Launches "NRI Dual Deposit Account" A Smarter & Convenient Savings Solution

Dual Deposit Account in Bahrain and India that meets the customers needs

Manama, Monday 14 July 2008 - Standard Chartered Bank, Bahrain has launched Non Resident Indian (NRI) Dual Deposit Account, a banking solution for a convenient and smarter way of saving. Under this offering, a dual deposit account is opened simultaneously in Bahrain and India to meet the financial commitments. The Dual Deposit Account provides low cost and efficient remittance solution for customers who have savings facility with Standard Chartered Bank Bahrain and India.

Jonathan Morris, Chief Executive Officer Standard Chartered Bank Bahrain said, "At Standard Chartered Bank, we pride ourselves in creating and developing innovative products and solutions. With the Bank's extensive footprint in Asia, Africa and the Middle East, we once again are able to leverage and use our global expertise to offer products and services that benefits our customers in Bahrain and India."

"We are proud to present our latest NRI Dual Deposit Account that gives the customers' and their family in Bahrain and India much more flexibility in managing their finances."

"Standard Chartered's key brand promise is clear and simple. We believe in establishing ourselves as our customers' Right Partner in their banking and financial needs and constantly aim to offer innovative products and services that allow customers to manage their aspirations".

In conjunction with the NRI Dual Deposit Account launch, Standard Chartered Bank is offering an early bird lifetime zero balance in their Savings Account in India, if the account is opened within the first six months of the launch.

In addition to the array of consumer product offerings that the customer can enjoy in Bahrain and India, Standard Chartered Bank would also be providing these products to their customers at a very competitive rate.

Key features of the NRI Dual Account are as follows:

• Lifetime zero balance applicable for accounts opened in the first six months
• Flat Charge of BD 1 for remittances made from SCB Bahrain to SCB India
• Competitive conversion rates from BD to INR
• Free quarterly statements for INR NRE account and half yearly for BD Savings account
• Free Multi-city Cheque book in India
• Free Debit Card in India [For Year one]
• Free Debit card in Bahrain
• Free Online Banking facility
• A minimum monthly balance of BD 20 in the Standard Chartered Bank Bahrain Savings account. A nominal fall below fee of BD1 will be levied on the account in case the monthly average balance is below the threshold

Apart from the key benefits offered, customers would also benefit from free advisory services from the dedicated NRI desk at the Diplomatic Branch on Investments in Bahrain, India and Globally.

"The product is designed with the consumer's best interest at heart. NRI Dual Account, which is a part of the NRI Banking facility, is designed to provide a convenient banking experience. It reduces the complexities and maintains its original intention of saving or investing for a specific purpose, said B. Chandrasekhar, Regional Head of Consumer Banking, Standard Chartered Bank, Northern Gulf, Levant and Oman.

NRI Dual Account is available today at all of Standard Chartered's 5 branches. For further information on NRI Dual Account, please contact the nearest Standard Chartered Branch or call 17 526 237.

For further information, please contact:

Nimmi Kamal
Head Corporate Affairs Bahrain, Standard Chartered Bank
Tel: +973 3977 076
E-mail: Nimmi.Kamal@sc.com

Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered PLC, listed on both the London Stock Exchange and the Hong Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and the number of employees have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.

Standard Chartered aspires to be the best international bank in its markets through leading by example to be the right partner for its stakeholders. The group now employs 73,000 people, representing 115 nationalities, in more than 1,700 branches and outlets located in over 70 countries. The bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, with balanced income derived from both Wholesale and Consumer Banking.

The group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. For more information, please visit: www.standardchartered.com