---

It is a subsidiary of the Standard Bank Group Limited which is based in Johannesburg and is listed on the JSE Securities Exchange. The Standard Bank Group is present in 18 African countries and 21 other countries including Europe, the United States and Asia. Standard Bank (Mauritius) Limited started operating in Mauritius in November 2001. The Mauritian business is being restructured with the capital management activities of the entity to be moved to another offshore representation of the Standard Bank Group and is becoming more of a "corporate and invesment" bank with a domestic and international clientele.

---