Perpetual Limited — Director's Dealing 2003

Sep 9, 2003

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

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	Michael Stefanovski (alternate for Charles Curran)
Date of last notice	04 April 2003

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	05 September 2003
No. of securities held prior to change	Perpetual's $20,137$ ordinary shares $-$ Employees Incentive Plans 40,219 options – Executive Option Plan
Class	Executive options
Number acquired
Number disposed	9,255 options granted 01 September 1999 issue price of \$20.66
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$$155,241$ (net of costs)
Class	Ordinary shares
Number acquired	Nil
Number disposed	$10,179$ shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$381,217

⁺ See chapter 19 for defined terms.

No. of securities held after change	9,958 ordinary shares 30,964 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	Sale of executive options and ordinary shares

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

$\div$ See chapter 19 for defined terms.