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PRESS DIGEST - British Business press - Feb 21 =9

Wed Feb 20, 2008 10:32pm EST

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Standard Chartered (STAN.L) has axed plans that would have seen it salvage its $7 billion Whistlejacket structured investment vehicle, which last week entered receivership, saying it took the decision on the basis of a number of factors, "the pace of continuing deterioration in the market for certain asset classes" among them. Deloitte, which was appointed the vehicle's receiver, said it is continuing to work on a potential restructuring, and that a fire sale of its assets is not a consideration.

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