Perpetual Limited — Board/Management Information 2004

Jan 6, 2004

Perpetua

MEDIA RELEASE

Perpetual appoints Chief Financial Officer

Perpetual Trustees Australia Limited has appointed Mr John Nesbitt as Chief Financial Officer.

Mr Nesbitt joins Perpetual from Lend Lease Corporation, where he most recently held the position of Chief Financial Officer - Lend Lease Asia Pacific Region.

During his 12 years at Lend Lease Mr Nesbitt held a number of senior management positions including General Manager - Group Finance Lend Lease Group; Global Chief Financial Officer – Bovis Lend Lease; and Financial Controller – Financial Services Division at MLC.

Mr Nesbitt previously held financial and executive management positions at Kumagai Australia Group and gained his professional experience at Price Waterhouse.

Mr David Deverall, Managing Director of Perpetual, said Mr Nesbitt brings solid financial and strategic management experience across a diverse range of businesses. "His ability in evaluating and implementing strategic initiatives and his commercial acumen are ideal to assist Perpetual to achieve its business objectives." Mr Deverall said

Mr Nesbitt holds a Bachelor of Financial Administration from the University of New England and he is a member of the Institute of Chartered Accountants and the Australian Society of CPA's.

$-000-$

For further information, please contact:

David Deverall or Managing Director Perpetual Trustees Australia Limited Ph: (02) 9229 9087

Hayley Morris Corporate Communications Manager Perpetual Trustees Australia Limited Ph: (02) 9229 3936

7 JANUARY 2004