TIDM66ZZ 
 
RNS Number : 4786O 
Standard Bank of South Africa Ltd 
06 March 2009 
 

Standard Bank Group Limited 
(Incorporated in the Republic of South Africa) 
(Registration number 1969/017128/06) 
JSE share code: SBK 
NSX share code: SNB 
ISIN: ZAE000109815 
("Standard Bank") 
Standard Bank enters into a strategic partnership with a leading Russian 
investment bank 
Standard Bank is entering into a strategic partnership with Troika Dialog Group 
Limited ("Troika Dialog"), the most established and largest independent 
investment bank in Russia, in terms of which Standard Bank intends, subject to 
regulatory approvals, becoming a 33% shareholder in Troika Dialog. 
The deal will initially comprise a US$200 million convertible loan extended by 
Standard Bank's International Operations to the Troika Dialog Group. Subject to 
the required regulatory approval process, this loan, together with the 
acquisition by Troika Dialog of Standard Bank's existing operation in Russia, 
ZAO Standard Bank, is convertible into a 33% equity stake in the merged entity. 
The combined operation will have a capital base in excess of US$850 million and 
will be strongly positioned to compete in the Russian financial services sector 
and to pursue banking consolidation opportunities in Russia. 
The transaction is subject to the approval of the Central Bank of the Russian 
Federation and the Russian antitrust authorities and the South African Registrar 
of Banks. 
Troika Dialog is a brokerage and investment bank that operates across the 
Commonwealth of Independent States ("CIS"). It has consistently demonstrated 
market strength in its core lines of business, namely capital markets (stock 
broking), investment banking, asset management, private equity investments and 
personal investments and finance. It is primarily focused on Russia and other 
CIS markets. 
Russia is the third largest economy amongst global emerging markets and has 
considerable resource wealth. This presents a strong fit with Standard Bank, a 
leading emerging market banking group with a strong resource banking franchise. 
The investment is aligned with Standard Bank's strategy to expand its 
international networks and capabilities and, where appropriate, to find the 
right partners to support the expansion of these networks. This transaction 
enables Standard Bank to have an enhanced access to this large emerging economy, 
along with a close alliance with a leading Russian company. 
In order to give effect to the strategic partnership, Standard Bank and Troika 
Dialog plan to enter into a relationship agreement which will govern the ongoing 
shareholder relationship and commercial cooperation between the two groups. 
Standard Bank would also have the right to nominate two non-executive members of 
the Troika Dialog board of directors. 
A Standard Bank / Troika Dialog Joint Strategic Committee will be established 
and will meet regularly. This committee will have equal representation from both 
parties. The strategic cooperation between Standard Bank and Troika Dialog is 
expected to cover broad areas of cooperation in Russia and other international 
locations. 
Johannesburg 
6 March 2009 
Investment Bank and Sponsor 
Standard Bank 
Date: 06/03/2009 07:06:03 Produced by the JSE SENS Department. 
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