Standard Bank of South Africa Limited


As Agent Bank, please be advised of the following rate determined on:28-Apr-2008
Issue               : The Standard Bank of South Africa Limited - Series 1
                      USD 500,000,000  FRN Due 30 Jul 2012
ISIN Number         : XS0313461690
Common Code/        : 31346169
144A ISIN
Issue Nomin     USD : 500,000,000.00
Period              : 30-Apr-2008 to 30-Jul-2008     Payment Date 30-Jul-2008
Number of Days      : 91
Rate                : 3.34938
Denomination    US  : 100,000.00        500,000,000.
Amount Payable
per Denomination    : 846.65            4,233,244.17

Bank of New York
Rate Fix Desk                           Telephone 44 1202 689580
Corporate Trust Services                Facsimile 44 1202 689601
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