Standard Chartered Completes Purchase of Harrison Lovegrove

Further to the announcement on September 5, 2007, Standard Chartered has completed the acquisition of Harrison Lovegrove & Co. Ltd.

Harrison Lovegrove is a leading global oil and gas M&A advisory boutique, with operational offices in London, Moscow, Kuala Lumpur, Perth, Calgary and Houston and a research center located in Washington DC. It has built up a strong reputation for offering high quality advice underpinned by an excellent technical understanding of the oil and gas industry. Harrison Lovegrove has advised on successful transactions totaling approximately US$20 billion and has represented clients from National Oil Companies and the Majors through to both large and small oil companies.

Mike Rees, CEO Wholesale Banking, said: "We are delighted to welcome the team from Harrison Lovegrove to Standard Chartered. Their business is highly complementary to our existing oil and gas advisory capabilities, and will build scale in a key sector in our Corporate Finance business. The broader product platform of Standard Chartered will enable the combined business to offer significantly greater value to clients."

The combined Oil & Gas team will be led by Andrew Bartlett, who has been appointed as the Global Head of Oil & Gas Corporate Advisory of Standard Chartered, and Martin Lovegrove, who has taken the role of Vice Chairman, Oil & Gas of the Bank. The new entity will initially be headquartered in Harrison Lovegrove's existing office in London before moving to a new location.