Standard Chartered agrees BC Card stake sale

Standard Chartered PLC announces that its subsidiary company, Standard Chartered First Bank Korea Limited, has entered into an agreement to sell its entire 14.85% stake in BC Card Company Limited ("BC Card") to Vogo Fund and its affiliates.

This transaction is subject to certain regulatory approvals and other closing conditions and is expected to be completed by the end of 2009.

As at 31 December 2008, total gross assets of BC Card were approximately USD1.5 billion.