Perpetual Limited — Capital/Financing Update 2005

Mar 13, 2005

MEDIA RELEASE

Perpetual announces sale of 39 Hunter Street

Perpetual Trustees Australia Limited (Perpetual) today announced the sale of the Perpetual Trustees Building at 39 Hunter Street, Sydney.

As announced in September last year, Perpetual is consolidating its Sydney premises, currently spread across three buildings, into one centralised location in Angel Place.

The building and associated transferable heritage rights were sold for a consideration of $29.2 million with settlement to be completed in early 2006. A profit after tax of $5.2 million will be used to offset the one-off costs associated with the move to the new premises. As set out in the 2004 Annual Report (Note 32 – Subsequent Events), these one-off costs are unlikely to exceed $5 million after tax.

Perpetual will lease six floors in Angel Place with significant benefits expected for Perpetual's clients, shareholders and its team from occupying contiguous floors in a single building.

The building was sold to an undisclosed buyer and managed on behalf of Perpetual by Colliers Jardine.

$-000-$

For further information, please contact: Eric Wang General Manager, Group Strategy Perpetual Trustees Australia Ltd Ph: +612 9229 9330

14 March 2005