COMPUTERSHARE LIMITED. — Capital/Financing Update 2002

Nov 6, 2002

charlessCHWAB CORPORATE SERVICES

MARKET ANNOUNCEMENT

Computershare acquires Charles Schwab Corporate Services' Employee Stock Purchase Plan Business as part of strategic alliance

Melbourne, Australia - November 7, 2002 - Computershare Ltd. (ASX:CPU), one of the world's leading employee plan services providers and the largest global stock transfer agency, announced today an agreement with Charles Schwab Corporate Services, a leading provider of workplace financial benefits, to enter a strategic alliance and acquire Schwab's US employee stock purchase plan (ESPP) business. Schwab will continue to offer stock option plan services directly to clients.

Computershare will provide technology, administration and other participant services to all of Schwab's ESPP clients, integrating them into Computershare's existing employee share plan business. In addition to the acquisition. Schwab and Computershare have entered into a strategic alliance to provide ongoing equity plan solutions for prospects and clients requesting combined employee stock purchase plan and stock option plan services.

"We see tremendous momentum in our business," said Steve Rothbloom, Chairman and CEO of Computershare Investor Services, North America. "Our global technology platform, presence on several continents and unparalleled service standards provide us with a real competitive advantage. Our purchase of Schwab's ESPP business and strategic alliance demonstrate our commitment to being the world's preeminent employee plan provider and shareholder service company."

Under the terms of the agreement. Schwab will refer stock purchase plan business exclusively to Computershare while continuing to provide its own stock option plan services.

"This agreement enables us to focus our energy and resources on serving Schwab's growing stock option plan business while continuing to offer an excellent solution for our clients' employee stock purchase plan needs through Computershare. We entered this alliance with Computershare because of their leadership position, superior service and global capability," said Ben Brigeman, Senior Vice President, Charles Schwab Corporate Services. "As a leading financial services company, we seek relationships like this that complement both our business model and our corporate values."

Ends

About Computershare

Computershare (ASX: CPU) is a leading financial services and technology provider for the global securities industry, providing services and solutions to listed companies, investors, employees, exchanges and other financial institutions. It is the world's leading employee stock purchase plans provider and only global transfer agent, managing more than 3 million plan participant accounts for over 860 corporations in ten countries on five continents. It also provides sophisticated trading technology to financial markets in fourteen countries across each major time zone. Additional information may be found at www.computershare.com

charlesschwar CORPORATE SERVICES

MARKET ANNOUNCEMENT

About Charles Schwab Corporate Services

Charles Schwab Corporate Services provides individual investing support services through employers. including employee retirement and stock option plans. IRA rollover accounts and individual/personal accounts. Charles Schwab Corporate Services also offers retirement plan services including record keeping services, software, trustee and custodial services, and the Schwab Personal Choice Retirement Account® (PCRA) (self-directed brokerage account through Charles Schwab & Co., Inc.). Total client assets in emplover-sponsored retirement plans at Schwab equaled \$84 billion in September 2002.

The Charles Schwab Corporation (NYSE:SCH), through Charles Schwab & Co., Inc. (Member SIPC/NYSE), U.S. Trust Corporation, CyberTrader, Inc. (Member SIPC/NASD) and its other operating subsidiaries, is one of the nation's largest financial services firms serving 8 million active accounts with \$727 billion in client assets. (1102-10690)

For further information contact:

Dudley Chamberlain Head of Investor Relations Computershare Ltd Phone: +61 3 9235 5500 Mobile: +61 417 374 316 Email: dudley.chamberlain@computershare.com.au