Perpetual Limited — AGM Information 2005

Oct 17, 2005

2005 Annual General Meeting

1999 - Jan James Barnett, fransk politik ( ......................................

Chairman's Address to Shareholders

Liberal Maria de la provincia de la provincia de la provincia de la provincia de la provincia de la provincia

18 October 2005

the contract of the contract of the contract of the contract of the contract of

_______________________________________

and the company of the company of

Urani manazarta

A record profit result for 2005

	2005	2004	Change
	$\mathfrak{S}$ m	$\mathbb{S}_{\mathrm{m}}$	$%$
Operating profit after$\text{tax}^{(1)}$	111.6	88.2	27
Net profit after tax	119.5	90.4	32
Total operatingrevenue $(2)$	351.7	306.0	15

(1) Operating profit after tax excludes gains on sale of investments, sale of building and costs of major strategic initiatives

(2) Excludes revenue attributable to the global equities strategic initiative

200

Perpetual

EBITDA or cash earnings in 2005

		SOOO
Operating EBITDA		171,071
Less provisions for move tonew premises	(4, 817)
Less loss for establishing theglobal equities business	(20, 130)
EBITDA as per statement offinancial performance infinancial statement		146,124

Perpetual

Capital management and dividends for 2005

Final dividend (September 2005)	$130¢$ per share
Interim dividend (March 2005)	130 $\phi$ per share
Total normal dividend	$260¢$ per share
Special dividend (September 2005)	$100¢$ per share
Total dividends	$360¢$ per share
Perpetual,

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Board changes

• Three directors up for re-election
• Three directors, including Chairman, retiring at the conclusion of MANAGER 2005 Annual General Meeting
• New Chairman

Ø

Closure of the Non-Executive Director Retirement Scheme

AGM business

• Consideration of financial and statutory reports
• Election of three non-executive directors WWW.
  • 1. Ms Meredith Brooks
  • 1. Mr Philip Twyman
  • 1. Mr Peter Scott
• Adoption of the Remuneration Report MANIE
• Company name change WWW.

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A new name for Perpetual

Perpetual Trustees Australia Limited

• Reflects mix and nature of business in 2005 and beyond ▓
• Aligns and strengthens our brand name in the market ▓
• Continued provision of trustee services ▓

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Proposed change in January 2006 with move to Angel Place ▓

Outlook for 2006

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• Pleasing 1st quarter for 2006 noongMilimi
  • FUM increased from $26.7B to $29.4B
  • Continuing to implement our strategy $\begin{array}{c} \mathbf{or} \mathbf{or} \mathbf{or} \mathbf{or} \end{array}$
• Expect 1st half operating profit after tax for 2006 to increase by 15 WWW. per cent over amount reported for prior corresponding period
  • Result is subject to market conditions

Perpetual