Perpetual Limited — Director's Dealing 2002

Nov 3, 2002

T-261 P.01/03 F-389

Perpetual

Date:	4 November 2002		AUSTRALIAN STOCK EXCHANGE	Perpetual Trustees Australia Limited ABN 86 000 431 827
To:	The Manager Company Announcements Fax: 1300 300 021	Australian Stock Exchange Limited	PPT000965	39 Hunter Street Sydney GPO Box 4172 Sydney NSW 2001 Australia DX 365 Sydney Telephone 02 9229 9000
From:	David Richards Manager, Corporate Risk			Facsimile 02 9232 8936 BY FAX
Subject:	Notice of Director's Interests - Gai McGrath
Pages:	3	(including this cover page)

The information in this facsimile is intended for the recipient(s) only. It may contain privileged and confidential information and if you are not an intended recipient, you must not copy, distribute or take any action in reliance on it. If you have received this facsimile in error, please notify us immediately by collect telephone call on the number provided above and return the facsimile to the sender by mail. We will reimburse you for the postage.

In accordance with the Listing Rules we attach completed change of Director's Interest Notice (Appendix 3Y) for Gai McGrath (alternate director for Graham Bradley).

Minte United
August David Richards
Mariager, Shareholder Relations
Direct Phone 02 9229 9084

P.02/03 F-389 $T - 261$

Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Perpetual Trustees Australia Limited
ABN	86 000 431 827	$\overline{\phantom{a}}$

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Gai McGrath (alternate for Graham Bradley)
Date of last notice	1 November 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest
Date of change	20 October 2002
No. of securities held prior to change	Perpetual's ordinary shares 17,307 Employees Incentive Plans 17,995 options - Perpetual's Executive Option Plan
Class	Ordinary
Number acquired	10,590 options
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$343,750 (Market value of options 29/10/02)
No. of securities held after change	17,307 ordinary shares 28,585 options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Grant of options under Perpetual's Executive Option Plan that are subject to performance hurdles at first exercise date.

$+$ See chapter 19 for defined terms.

Appendix 3Y
Change of Director's Interest Notice

Part 2 - Change of director's interests in contracts

Detail of contract	Not Applicable
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note. Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.