Perpetual Limited — Director's Dealing 2003

Apr 3, 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	01 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
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest
Date of change	02 April 2003
No. of securities held prior to change	20,137 ordinary sharesPerpetual's$\overline{\phantom{0}}$Employees Incentive Plans71,637 options – Executive Option Plan
Class	Executive options
Number acquired
Number disposed	22,163 options granted 14 April 1999 issueprice of $22.569,255 options granted 01 September 1999issue price of $20.66
Value/ConsiderationNote: If consideration is non-eash, provide details andestimated valuation	$$200,564$ (net of costs)
No. of securities held after change	20,137 ordinary shares40,219 options

+ See chapter 19 for defined terms.

Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back	Sale of executive options
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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 whichinterest related prior to changeNote: Details are only required for a contractin relation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, providedetails and an estimated valuation
Interest after change

$\div$ See chapter 19 for defined terms.